Dairy exporters Synlait Milk and a2 Milk fell by 3.6 per cent and -0.8 per cent, possibly in response – although overall struggles in dairy futures markets, over the past few months, may have also contributed.
Serko declined by 2.0 per cent. Serko is a software company offering an online booking tool for corporate travel in Australia and New Zealand. The continuation of the Covid-19 outbreak in Australia may be partially responsible for this fall.
Vector was also a poor performer, falling 1.9 per cent in line with the wider sector.
International
US
US markets were closed overnight due to Labor Day.
Rest of the world
Asian indices continued last week's momentum, with the Hang Seng, Nikkei, and Shanghai Composite each posting gains of 1.0 per cent, 1.8 per cent, and 1.1 per cent, respectively.
Commodities
In commodities this morning, Gold is trading 0.5 per cent weaker at US$1,825.50 per ounce. WTI crude oil fell, now priced at US$68.90 per barrel. Yields are trading unchanged, with the 10-year Treasury bond now priced at 1.3 per cent.
Crypto markets were quiet overnight with Bitcoin nudging ahead by 1.8 per cent to remain above the US$50,000 mark at US$51,665.6. Ethereum slipped 0.2 per cent to US$3,391.0.
Australia
The ASX 200 closed 0.1 per cent higher at 7,528.5 points, ahead of today's Reserve Bank of Australia policy meeting.
Eight of 11 sectors were in the green on Monday, with information technology (+1.2 per cent) and consumer discretionary (+0.9 per cent) booking the biggest gains. Energy (-1.7 per cent) and materials (-1.1 per cent) were the laggards of the day.
Appen Limited was the best performing stock of the ASX 200. The artificial intelligence company increased 4.6 per cent, working against the downward trend from last week.
Next in line was education services provider IDP Education, trading 4.3 per cent higher.
Third on the leader board was gold miner Evolution Mining, up 3.9 per cent.
The worst performer of the day was health sector software developer Pro Medicus, declining 5.8 per cent.
Meanwhile, lithium and tantalum producer and explorer Pilbara Minerals fell 5.3 per cent. Mineral Resources sold its 5.4 per cent shareholding in Pilbara Minerals in a block trade, with bids being called from A$2.05 a share and up to as high as A$2.15 per share. The cash proceeds of about A$328 million will be used for the capital expenditure program of Mineral Resources.
Iron ore miner Fortescue Metals Group also dropped by 10.9 per cent, although this was likely due to it going ex-dividend.
Coming up
A quieter week to follow reporting season, which has just concluded, although the macro-economic front remains busy.
Highlights include some central bank meetings with the Reserve Bank of Australia up today, and the European Central Bank on Thursday.
The latest Chinese trade data is also set to come out today, along with the Eurozone's second quarter GDP numbers.
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Disclaimer: This Morning Brief has been prepared in good faith and reflects opinions and views at the time of publication, using external sources, systems and other data and information we believe to be accurate, complete and reliable at the time of preparation. We make no representation or warranty as to the accuracy, correctness and completeness of that information, and will not be liable or responsible for any error or omission. This Morning Brief is not to be relied upon as a basis for making any investment decision. Please seek specific investment advice before making any investment decision. Jarden Securities Limited is an NZX Firm, a broker disclosure statement is available free of charge at www.jarden.co.nz. Jarden is not a registered bank in New Zealand. Full disclaimer available at: https://www.jarden.co.nz/limitations-and-disclaimera>
