ASX 200 trades flat ahead of RBA policy meet; ORG, AMC, NEC go ex-dividend


  • The ASX 200 was trading flat at 7,536.9 by lunchtime.
  • A-VIX, which shows the volatility of the Australian share market, is trading 4.1% down at 10.88.
  • Aussie Broadband plans to raise AU$120 million for the purpose of accelerating product development.

The Australian share market continued to trade flat as investors are sitting on the sidelines ahead of RBA’s policy meet. By lunchtime, the ASX 200 had moved slightly higher by 0.1% or a mere 8 points to 7,536.9. The ASX All Ordinaries Index also traded flat but with a negative bias, dropping 10.1 points to 7,813.


ASX dips at lunchtime; Which Stocks are grabbing the headlines today?


On Monday, the Australian and New Zealand dollars eased a bit amid Friday’s data that revealed the world's largest economy created the fewest jobs in the last seven months in August 2021. The Australian dollar closed Monday’s session 0.15% lower at $0.7437 but hovered around a two-month high of $0.74775 touched a day before.

On the commodity side, iron ore prices witnessed selling pressure and fell more than a sizable 6% on Monday, with the Dalian benchmark falling to its lowest price in seven months. The rising portside stocks of the steelmaking ingredient in China (primarily due to increased shipments cost), coupled with weak domestic demand was the primary reason for this sharp fall.

Image Source: Copyright © 2021 Kalkine Media Pty. Ltd.

Local iron ore miners such as Fortescue Metals Group Limited (ASX:FMG), Rio Tinto (ASX:RIO) and BHP Group Limited (ASX:BHP), all opened the session on a weak note and have shown no signs of recovery so far.

Crude oil prices also traded lower on Monday after Saudi Arabia's deep cuts to crude prices for Asian market revived concerns over the demand outlook. Brent crude futures were down 39 cents to settle at US$72.22 per barrel, while WTI crude was down 40 cents to US$68.89 per barrel.

A-VIX, which shows the volatility of the Australian share market, is trading 4.1% down at 10.88, depicting a subdued volatility before the central bank’s meeting.

Related article: Crude oil dips followed by Saudi's decision to cut prices for the Asian market

Top Gainers and Losers

The top gainers on the ASX 200, which are holding the benchmark index afloat, are Chalice Mining Limited (ASX:CHN) and Whiteheaven Coal Limited (ASX:WHC), both gaining 3.3% and 2.77%, respectively. Other stocks on the list are Eagers Automotive Limited (ASX:APE), Flight Centre Travel Group Limited (ASX:FLT) and Mesoblast Limited (ASX:MSB), which were up 2.63%, 2.57% and 2.31%, respectively.

An almost equal competition is being posed by the losers for the day, keeping the index from gaining momentum. BlueScope Steel Limited (ASX:BSL) has been the biggest loser, falling 2.85%, followed by a 2.67% fall in Webjet Limited (ASX:WEB). IOOF Holdings Limited (ASX:IFL) and Origin Energy Limited (ASX:ORG) were other stocks trading in the red today, shedding 2.32% and 2.25%, respectively.

Data Source: ASX Website (7 September 2021, as of 11:30 AM AEST)

Coming to the market breadth, seven out of the 11 sectors are trading higher today. The Metals and Mining sector is down 0.63%, followed by a 0.26% fall in the Utilities sector. The Consumer Discretionary sector is leading the momentum with a gain of 0.47%.

Energy stocks such as Woodside Petroleum Limited (ASX:WPL), Viva Energy Group Limited (ASX:VEA) and Santos Limited (ASX:STO) are also trading in the green.


Aussie Broadband Limited (ASX:ABB) has announced plans to raise AU$120 million for the purpose of accelerating product development and to support new opportunities. AU$110 million would be raised in the form of institutional placement and the remaining AU$10 million via a share purchase plan.

Ioneer Limited (ASX:INR) has awarded the licence, engineering and equipment contract to DuPont Clean Technologies. The contract is still conditional, and the final investment decision is reserved with the board.

Image Source: Copyright © 2021 Kalkine Media Pty. Ltd.

Navigator Global Investments Limited (ASX:NGI) has entered into a definitive agreement to acquire a 32% stake in Longreach Alternatives, which is expected to contribute immediately to Navigator’s earnings. Navigator would use its existing financial resources to fund the acquisition.

Orthocell Limited (ASX:OCC) has secured a new patent in Canada and Hong Kong for its novel CelGro® collagen medical device platform. These patents would further help the company to strengthen its position in regenerative medicine product development.

Openpay Group Limited (ASX:OPY) has partnered with a multiple automotive players; Victorian Automobile Chamber of Commerce, tyre maker Goodyear & Dunlop Tyres Australia and Bosch Car Service Australia.

Meanwhile, a lot of firms have gone ex-dividend today. A few of them are Origin Energy Limited (ASX:ORG), Amcor CDI (ASX:AMC), GWA Group Limited (ASX:GWA), Reliance Worldwide Corporation Limited (ASX:RWC) and Nine Entertainment Company Holdings Limited (ASX:NEC).

Read more: Five ASX penny stocks that started September on a bright note





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