Burrell Stockbroking and Superannuation is a longstanding Queensland company providing full stockbroking, superannuation, wealth management and advisory services to private clients, Not-for-Profit and other investment organisations.
US stocks fell on Tuesday, adding to losses into the close, as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new US coronavirus cases rose further.MORE >
The Australian share market has closed flat despite strong overseas leads as traders ponder the impact of a sharp rise in new coronavirus cases in the country's second-most populous state.
Tuesday, 7th July, 2020
The ASX200 benchmark index finished Tuesday down 1.7 points, or 0.03 percent, at 6,012.9 while the All Ordinaries index gained 0.8 points, or 0.01 percent higher, at 6,126.7.
Miners surged after underperforming in recent days, with BHP gaining 1.3 percent to $36.10, Rio Tinto up 0.9 percent to $96.29 and Fortescue Metals surging 6.3 percent to $14.80. Goldminer Newcrest climbed 2.6 percent to $33.09 while Northern Star added 2.5 percent to $13.94 and Saracen Mineral Holdings added 2.7 percent to an all-time high of $6.
The big banks were all down, however, with NAB declining 1.9 percent to $18.34, ANZ and Westpac both falling 1.6 percent to $18.81 and $18.16 respectively; and CBA down 0.3 percent to $71.24. Magellan Financial Group rose 2.7 percent after reporting that funds under management dipped 1.3 percent to $97.2 billion in the three months to June 30. Afterpay was in a trading halt after it announced an $800 million institutional placement at a minimum price of $61.75 a share, a 9.2 percent discount to Monday's closing price.
The energy sector also underperformed with Woodside, Santos and Origin Energy all down between 1.4 and 1.8 percent. This was despite the Queensland government giving petroleum leases to the Mahalo gas project, which Origin and Santos have interests in.
The Australian dollar dipped slightly after the Reserve Bank kept the cash rate at a record low 0.25 per cent, as was widely expected. The Aussie was buying 69.41 US cents, down from 69.72 US cents at the close of trade on Monday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6945||-0.0028||-0.40|
|$A vs GBP||0.5561||
|$A vs EUR||
|$A vs YEN||74.75||-0.13||-0.18|
|$A vs $NZ||
With the conclusion of Daylight Saving in the Southern States on Sunday the 5th of April, 2020 ASX trading hours (in Queensland) change to 10:00am - 4:00pm as of Monday the 6th of April.
Our office hours remain as 8.30am - 5.00pm.