Property up, mining down: ASX closes 0.14% higher

By Peter Milios | More Articles by Peter Milios

On Wednesday, gains in the tech and property sectors were counterbalanced by declines in the mining sector, following a 1.4 per cent increase in shares on Tuesday, prompted by the Reserve Bank's decision to maintain interest rates and indicate data-dependent rate adjustments.

Perpetual (ASX:PPT), headquartered in Sydney, witnessed the sharpest drop on the benchmark index, plummeting by 7 per cent to $22.32, as its board approved a deal to divest its trustee and advice business to Kohlberg Kravis Roberts for $2.18 billion, with its $227 billion asset management business set to be spun off, pending shareholder approval by February.

At the closing bell, the S&P/ASX 200 was 0.14 per cent higher at 7,804.50.


The Dow Jones futures are pointing to a rise of 8 points.
The S&P 500 futures are pointing to a rise of 0.5 points.
The Nasdaq futures are pointing to a rise of 1.25 points.
The SPI futures are up 11 points.

Best and worst performers

The best-performing sector was Industrials, up 0.73 per cent. The worst-performing sector was Consumer Discretionary, down 0.36 per cent.

The best-performing large cap was Pro Medicus (ASX:PME), closing 2.82 per cent higher at $116.29. It was followed by shares in Atlas Arteria (ASX:ALX) and NEXTDC (ASX:NXT).

The worst-performing large cap was Paladin Energy (ASX:PDN), closing 2.83 per cent lower at $16.48. It was followed by shares in Mercury NZ (ASX:MCY) and Spark New Zealand (ASX:SPK).

Asian markets

Japan's Nikkei has lost 1.63 per cent.
Hong Kong's Hang Seng has lost 0.80 per cent.
China's Shanghai Composite has lost 0.10 per cent.

Commodities and the dollar

Gold is trading at US$2,322.10 an ounce.
Iron ore is 1.2 per cent lower at US$118.75 a tonne.
Iron ore futures are pointing to a 2.9 per cent fall.
Light crude is trading $0.67 lower at US$77.71 a barrel.
One Australian dollar is buying 65.75 US cents.

About Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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