ASX opens lower on Queensland & CSL vaccine agreement termination

  • December 11, 2020 12:47 PM AEDT
  • Hina Chowdhary
    Hina Chowdhary
    Director, Equities Research Hina Chowdhary
    1706 Posts

    Hina Chowdhary is the Director, Equity Research at Kalkine and has an extensive experience of about 15 years in the area of Research, which includes 5+ years in Equities Research particularly.She has earned a Master of Science degree from the renowne...

ASX opens lower on Queensland & CSL vaccine agreement termination

Summary

  • S&P500 declined 0.13 per cent to 3,668.10 points; Dow Jones ended lower 0.23 per cent at 29,999.26 points in yesterday’s session.
  • Termination of COVID-19 vaccine being developed by University of Queensland, CSL after it delivered false positive HIV results.
  • Australian dollar continues to move on an upward trajectory.
  •  

ASX 200 on Friday opened 20 points lower at 6683.1 after a weak night of global trade and concerns around termination of COVID-19 vaccine agreement by the University of Queensland and CSL. The concern which may negatively impact investor sentiment today is related to the termination of the coronavirus vaccine being developed by the University of Queensland and CSL after it delivered false positive HIV results. Wall Street closed largely lower as release of dismal economic data continued. The investors are also keenly tracking talks over future stimulus packages.

Image Source: Shutterstock

While the S&P500 declined 0.13 per cent to 3,668.10 points, while the Nasdaq ended 0.54 per cent higher at 12,405.81 points. Dow Jones ended lower 0.23 per cent at 29,999.26 points on Thursday. ASX 200 ended down by 45.4 points, or 0.67 per cent, to 6683.10 yesterday. The top gainers for the day are IGO Limited (ASX:IGO) and Eagers Automotive Ltd (ASX:APE), up 21.88 per cent and 7.24 per cent, respectively. 

Whereas top losers were Breville Group Limited (ASX:BRG) and Omni Bridgeway Limited (ASX:OBL), losing 2.95 per cent and 2.89 per cent in early trade.

The index has gained 0.25 per cent in the last five days, as per the current price of 6653 (as at 11:31 AM). However, it has remained virtually unchanged over the last year to date. During the early session most of the sectoral indices are trading with a downtick. ASX 200 Consumer Discretionary and ASX 200 financials are down by 0.62 per cent and 0.68 per cent respectively.

All other broader market indices namely; ASX 20, ASX 50 and ASX 100 were all trading with a 0.62 per cent, 0.61 per cent and 0.48 per cent downtick respectively.

READ MORE: Market Close Commentary; 10 December 2020

Australian dollar hits new high

Buoyant over improvement in global growth and coronavirus vaccine roll-out, the Australian dollar touched its highest levels in two and a half years against the US dollar yesterday. The Australian currency closed massively up by 1.2 per cent to 75.32 US cents. It is the highest level recorded since June 2018. So far this year, the Australian dollar has gained over 7 per cent against the US dollar.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK