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 stock markets jumped overnight on hopeful signs that the coronavirus outbreak in the US was close to a peak, with health insurers getting an additional lift from Bernie Sanders decision to suspend his presidential campaign.MORE >
The Australian share market has dipped in the final minutes of trade as the Eurozone failed to pass a stimulus measure after 16 hours of talks.
Wednesday, 8th April, 2020
The ASX200 benchmark index had looked set to close flat despite weakness in the financial sector, but lost 38.8 points in the final minute of trade to finish Wednesday down 45.4 points, or 0.86 percent, at 5,206.9 points The broader All Ordinaries index shed 42.5 points, or 0.8 percent, to 5,258.8.
A reason for the last-minute sell-off could not be stated categorically but it coincided with reports that a meeting of European Union finance ministers had concluded for the day without agreement on stimulus measures. The banking sector was worst performer and was under pressure all day after APRA advised banks to "seriously consider deferring decisions on the appropriate level of dividends until the outlook is clearer". Also, Fitch Ratings also downgraded the big banks credit rating to reflect the agency's expectations of a significant economic shock in 1H20 due to measures taken to halt the spread of the coronavirus. ANZ dropped 4.9 percent to $15.52, NAB fell 4.8 percent to $15.34 and Westpac declined 5.3 percent to $15.25.
Blood products giant CSL was flat at $311.94 and said after the close it would be providing an update on its operations in light of the COVID-19 pandemic on Thursday morning. Austal jumped 5.4 percent after the global shipbuilder reafirmed its earnings guidance and reported that its operations had been "largely unaffected by COVID-19", with just four of its 6,000 employees testing positive. Among the miners, BHP was down 1.2 percent to $31.31, Rio Tinto dropped 1.5 percent to $89.26 and Fortescue Metals fell 1.5 percent to $11.25.
Property stocks turned around their earlier fortunes, with Stockland, Vicinity Centres and Unibail-Rodamc-Westfield soaring between 7.4 and 10.9 percent after the announcement on Tuesday of a new commercial code of conduct for tenancy agreements that will be regulated by each state and territory.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6140||-0.0012||-0.19|
|$A vs GBP||0.4986||
|$A vs EUR||
|$A vs YEN||66.81||--||--|
|$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.