How was your Monday?
A busy day @PeakHQ with a few moving parts…
It was a weekend of great weather and divisive footy, here’s looking forward to a productive week ahead.
On another note, over in the US…
The Dept. of health and safety is asking the DEA to re-classify marijuana’s drug status as a scheduled III substance, another push that may see the sector benefit.
See pic below for more.
Across Markets…
A broad sell-off, led by tech shares, pulled the sharemarket lower on Monday.
The ASX/S&P 200 closed 0.7 per cent, or 49 points, lower at 7229.2. The All Ordinaries also fell 0.7 per cent.
The ASX tech sector fell 2.7 per cent, its worst one-day performance so far this month. All 11 ASX sectors ended in the day in the red.
In company news, Silver Lake Resources fell 8.3 per cent after confirming it was the mystery buyer of an 11 per cent stake in West Australian gold producer Red 5.
Red 5 shares shot up 20.5 per cent, following news of the deal. Silver Lake sank 3.7 per cent following the announcement.
Costa Group dropped 3.4 per cent after Paine Schwartz Partners cut the amount it is prepared to pay for the fruit and vegetable processor from $3.50 per share, made in May, to $3.20 per share.
QBE sank 1.5 per cent. The insurer’s group head of distribution, Julie Wood, has been promoted to CEO of QBE’s North American division, following the departure of Todd Jones in August.
Azure Minerals fell 12.3 per cent, following the release of new lithium intersections at its Andover project in WA.
Yellow Brick Road declined 10.3 per cent. Shareholders in the soon-to-be-delisted mortgage-broking business will get the chance to top up shares through a final purchase plan, announced earlier today.
Zip Co fell 6.3 per cent, following news the buy-now-pay-later platform’s chief financial officer will retire at the end of this month. Martin Brooke will step down from the role on September 29 and former Westpac general manager of group finance Gordon Bell will step into the role.