👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Australian shares flat as virus cases slow, NZ hits 6-month high

Published 24/08/2020, 11:46 am
© Reuters.
AXJO
-
FMG
-
WDS
-
AXMM
-
AXEJ
-
AXIJ
-
NZ50
-
APT
-
QAN
-

* ASX benchmark snaps two straight session of losses

* Fortescue jumps 2.5% on record profit, dividend hike

* Afterpay hits record high, bolsters tech stocks

By Pranav A K

Aug 24 (Reuters) - Australian shares were little changed on Monday, as a drop in fresh coronavirus infections in the state of Victoria and a boost from technology stocks offset early losses in energy and healthcare.

The S&P/ASX 200 index .AXJO ticked 0.05% higher to 6,112.4 points by 0121 GMT, after falling 0.3% in early trade. The benchmark lost about 0.2% last week, snapping two straight weeks of gains.

Victoria reported its lowest daily rise in new coronavirus cases in seven weeks, fanning hopes that a deadly second wave there is subsiding. The state on Monday reported 116 cases and 15 deaths from the virus in the past 24 hours, down from a peak of more than 700 cases early this month. stocks .AXIJ jumped 2.4% and hit an all-time high, boosted by the country's biggest buy-now-pay-later firm Afterpay Ltd APT.AX .

Afterpay said it would acquire Spain-based peer Pagantis to expand its operations into Europe, sending its shares to a record high. units .AXEJ fell 1.3% and led losses on the benchmark as the country's top independent gas producer Woodside Petroleum WPL.AX slid more than 2%.

Meanwhile, Qantas Airways QAN.AX dropped 4.1% after the carrier announced the departure of its international division head in a cost-saving move. Metals Group FMG.AX advanced 2.5% and kept mining stocks .AXMM afloat after the world's fourth-biggest iron ore miner posted a record full-year profit and quadrupled its final dividend. Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.4% to 11,878.6, its highest level since Feb. 24, supported by utilities and industrial stocks.

Data showed that the country's retail sales volumes fell a seasonally adjusted 14.6% in the second quarter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.