The ASX 200 Ends Lower Before Good Friday

The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended lower on Thursday.

The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended lower on Thursday.

All Ordinaries: down 0.5% at 5,869 points

ASX 200: down 0.5% at 5,759 points

ASX 200 Movers

  • Reece Ltd (ASX: REH) – up 2.1%
  • Caltex Australia Ltd (ASX: CTX) – up 1.1%
  • Iron Mountain Incorporated (ASX: INM) – up 3.9%

ASX 200 Losers

  • Bellamy’s Australia Ltd (ASX: BAL) – down 8.1%
  • Wisetech Global Ltd (ASX: WTC) – down 6.8%
  • a2 Milk Company Ltd (ASX: A2M) – down 5%

Australian Investing News

The biggest financial news in Australia and the ASX 200 came from Magellan Financial Group Ltd (ASX: MFG). Today, Magellan announced that it has cancelled its partnership with Cricket Australia following revelations of cheating.

“A conspiracy by the leadership of the Australian Men’s test Cricket Team which broke the rules with a clear intention to gain an unfair advantage during the third test in South Africa goes to the heart of integrity,” Magellan CEO, Hamish Douglass said.

“Regrettably, these recent events are so inconsistent with our values that we are left with no option but to terminate our ongoing partnership with Cricket Australia.”

This morning, plumbing company Reece announced that it will buy Heatcraft’s New Zealand Operations from Sweden’s, Beijer Ref. Headcraft is a wholesale supplier of refrigeration in Australia and New Zealand.

“With a comprehensive product range, the acquisition of Heatcraft’s New Zealand operations will enable us to build on our solid base in the region, and broaden our customer offering,” Reece CEO Peter Wilson said. Reece plans to expand Heatcraft’s footprint from 11 to 18 locations.

Fletcher Building Ltd (ASX: FBU) ended 2.7% lower after announcing that it had received a waiver of the recent breach of its debt covenants and banking arrangements. The breach of its rules were a result of an expected loss from Fletcher Building’s Building and Interiors business.

a2 Milk Company and Bellamy’s Australia shares also moved lower on Thursday. On Wednesday, Nestle revealed it would release its own A2 protein brand of infant formula. Does The A2 Milk Company Ltd Face A New Threat In China?

Amongst the major banks, Australia and New Zealand Banking Group (ASX: ANZ) shares fell 0.9% while Commonwealth Bank of Australia (ASX: CBA) shares ended 0.6% higher, according to Yahoo! Finance.

Did you know it’s free to join The Rask Group’s Investor Club Newsletter? It’s a regular (usually weekly) news and educational update on financial markets, investing and unique strategies. Join today and get ready to laugh and learn.

Click here to join The Rask Group’s Investor Club Newsletter Today

 

Hey, you, read this disclaimer: This article contains information only. It is not financial advice. It is no substitute for trusted and licensed financial advice and should not be relied upon. By using our website you agree to our Code of EthicsDisclaimer & Terms of Use and Privacy Policy. Also, don’t forget, past performance is not a reliable indicator of future performance. 

Better investing starts here.

Want to level-up your analytical skills and investing insights but don’t know where to start? Join 50,000 Australian investors on our mailing list and we’ll send you our favourite podcasts, courses, resources and investment articles every Sunday morning. Grab a coffee and let Owen and the team bring you the best  insights.

5%+ in passive income

Owen Rask’s investing report available

With bond ETFs like ASX:IAF and the S&P 500 riding high, now could be one of the best times to start earning passive income from a portfolio of shares and ETFs.

In this free analyst report, our Chief Investment Officer, Owen Rask, names 10 ASX stocks and ETFs to watch.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Skip to content