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ASX 200 Falls In Early Deals

Stock MarketsSep 06, 2021 11:23
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© Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 moved 0.83% lower in early deals on Monday, retracing gains of 0.4% in the previous week as many companies began trading ex-dividend amid a slew of corporate earnings results last week, while surging domestic coronavirus cases also sapped risk sentiment.

In coronavirus news, Victoria reported a yearly high of 246 fresh cases today, with 121 linked to existing outbreaks as the state reached 60% first dose coverage on Sunday, while New South Wales confirmed 1281 cases as Premier Gladys Berejiklian noted that health authorities are expecting to reach a peak in cases over the next week, reassuring the public that the state’s hospital capacity can handle the record surge in infection rates.

Among stocks, mining companies moved lower with Rio Tinto Ltd (ASX:RIO) falling 0.66% and BHP Billiton Ltd (ASX:BHP) slipping 0.71%, while Fortescue Metals Group Ltd (ASX:FMG) dropped 8.9% as the firm traded ex-dividend. ASX Ltd (ASX:ASX) is also down 3% after going ex-dividend this morning.

Ahead in the week, the Reserve Bank of Australia will release its Interest Rate Decision Tuesday, with policymakers expected to formalize the proposed reduction in bond purchases, while other data such as the Ai Group Services Index will also be released.

In New Zealand, the NZX 50 fell 50.57 points or 0.38% to 13240.52.

ASX 200 Falls In Early Deals
 

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Aruna Shaantha
Aruna Shaantha Sep 06, 2021 11:49
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