The All Ordinaries (INDEXASX: XAO)(^AORD) and S&P/ASX 200 (INDEXASX: XJO) (^AXJO) ended sharply lower on Monday as Donald Trump’s tough stance on China trade lingers.
All Ordinaries: down 0.5% at 5,901 points
ASX 200: down 0.5% at 5,790 points
ASX 200 Movers
- Newcrest Mining Ltd (ASX: NCM) – up 1.6%
- Ramsay Health Care Group Ltd (ASX: RHC) – up 1.4%
- Northern Star Resources Ltd (ASX: NST) – up 2.6%
ASX 200 Losers
- Afterpay Touch Group Ltd (ASX: APT) – down 6%
- AMP Limited (ASX: AMP) – down 2.9%
- a2 Milk Company Ltd (ASX: A2M) – down 2.3%
Australian Investing News
Fears of a trade war between the USA and China appeared to rattle ASX investors today, with the gold mining sector again being a robust performer. Gold is often perceived to be a ‘hedge’ against political risk or global uncertainty.
Making headlines today was AMP, the wealth management and financial services company. This morning, AMP announced the resignation of CEO Craig Meller at the end of 2018. The AMP Board will commence a search for his replacement.
Further down the market, shares of New Zealand-based software company Gentrack rose 5% following its announcement of a deal with E.ON. Gentrack’s Velocity utility and customer management solution will support E.ON in the UK and Romania.
Amongst the big banks, Commonwealth Bank of Australia (ASX: CBA) shares ended 1.1% lower while Westpac Banking Corp (ASX: WBC) ended 0.6% in the red.
According to Fairfax Media, the recent selloff in Australian shares means the ASX 200 is at levels not seen for five months.
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