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US markets were closed on Monday for the Juneteenth federal holiday.
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Jarden Brief: NZ, Aussie shares slide
NZ Herald
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The ASX 200 closed 0.6 per cent lower yesterday. Photo / Getty Images
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The NZX 50 closed flat yesterday at 10,588.20 points.
Cancer diagnostics company Pacific Edge was the top gainer, up 4.2 per cent. Financial services firm Heartland Group climbed 2.1 per cent. Fisher & Paykel Healthcare improved 2.0 per cent.
Real estate investor Vital Healthcare Property Trust closed 3.7 per cent lower. Film technology business Vista Group declined 3.6 per cent. Fleet technology company EROAD rounded off the laggards with a 3.3 per cent fall.
With a PSI of 55.2, the BNZ - BusinessNZ Performance of Services Index (PSI) for May suggests the service sector expanded at a faster rate than April (52.2). May's sanguine result was the highest monthly mark since June last year, and ahead of the survey's 53.6-point long-term average.
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Australia
The ASX 200 closed 0.6 per cent lower yesterday, to 6433.40 points.
Despite the decline in the ASX 200, seven of the 11 sectors closed higher. Australian real estate investment trusts (A-REIT) and consumer discretionary led, up 3.5 per cent and 2.9 per cent respectively. Energy fell 5.2 per cent and materials (-4.7 per cent) experienced its worst performance in about eight weeks.
Leading the top performers was bookmaker Pointsbet Holdings, inclining 18.1 per cent. This followed an announcement of SIG Sports Investment becoming a new strategic investor. The placement of 38,750,000 shares at A$2.43 per share led SIG Sports to become Pointsbet's largest shareholder, raising A$94.16 million for the company. The company also announced a deferred bonus equity option to raise approximately A$150m over the next two years.
Bio-tech company Imugene Limited increased 10.7 per cent and machine intelligence company Appen had the third largest rise, up 10.2 per cent.
Paladin Energy led the decliners, down 12.3 per cent.
Champion Iron and Silver Lake Resources fell 11.4 per cent and 9.2 per cent respectively.
Concerns about steel demand going into a potential economic slowdown pushed down iron ore futures in China yesterday, sending iron ore mining companies into the red. Fortescue Metals closed 8.6 per cent lower to A$17.00, and BHP Group dropped 5.3 per cent to close at A$7.32.
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Disclaimer: The Jarden Brief is provided for general information purposes only. It reflects views and research available 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. The Jarden 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 financial advice disclosure statement is available free of charge at https://www.jarden.co.nz/our-services/wealth-management/financial-advice-provider-disclosure-statement/ Full disclaimer available at: https://www.jarden.co.nz/wealth-sales-and-research-disclaimer