Aussie shares are falling for the first time this week, with the ASX 200 down 23pts or 0.35 per cent to 6648. This follows a choppy session for global markets last night, mixed data and U.S. profit results and a key Brexit development.
A vote last night in the U.K. parliament has made a messy Brexit next Thursday less likely. While MPs endorsed Prime Minister Johnson’s Brexit deal, they rejected a three-day timetable for approval of the agreement. The market now awaits the European Union’s decision on whether to grant the U.K a potential three-month extension before leaving the bloc.
Gains from mining, energy, property stocks and Wisetech (WTC) are helping to keep the market positive.
Wisetech (WTC) is back online, lifting by 5.75 per cent after a couple of trading halts over the past week. The software company has rejected claims made by a U.S. based short seller that it has manipulated its books. Those claims dragged shares in WTC down 22 per cent over the prior two sessions. WTC has also reaffirmed its profit and revenue goals for the year.
Rio Tinto (RIO) said it is reviewing the viability of its New Zealand aluminium business. The miner expects this division to remain unprofitable for the time being. RIO is up 0.75 per cent.
Costa Group (CGC) – Australia’s largest fruit and vegetable grower – has requested its shares be suspended from the market for up to five days ahead of an updates on its trading outlook.
Kogan.com (KGN) is down 1.4 despite handing down a 16 per cent lift in sales between July and September together with a 28 per cent surge in profits.
Temple & Webster (TPW) is up 4.3 per cent after the online furniture and homewares retailer announced a solid start to the financial year. Whitehaven Coal (WHC) and Saracen (SAR) have both received broker upgrades a day after releasing quarterly production reports.
1.2bn shares have changed hands so far today worth $2.3bn. 427 stocks are up, 540 are down and 329 are unchanged.
Published by CommSec