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Highlights
- Australian shares dropped 1.65% to reach just 4.5% above their 52-week low level.
- Consumer Staples and consumer discretionary stocks were the worst hit sectors today.
The ASX200 edged down about 1.65% to close at 7,064.50 today (4:15 PM AEST). The index sits merely 4.5% above its 52-week low, with most industrial sectors making losses. Consumer staples and discretionary were the worst-performing sectors, down 3.71% and 3.10%. Health Care was the best performing sector gaining 0.13%. The large-cap stocks also witnessed a market pulldown, and the representative ASX50 index (XFL) was down 1.63%.
Here are the share price performances and latest updates of three noteworthy ASX-listed securities in this backdrop. Covered here are, Reece Limited (ASX:REH), Magellan Global Fund (Open Class) (Managed Fund) (ASX:MGOC) and Cochlear Limited (ASX:COH).
Reece Limited (ASX:REH)
Reece Limited is engaged in distributing plumbing, waterworks and Heating, ventilation, air conditioning and refrigeration (HVAC-R) products. The company has around 800+ branches and it has operations in Australia, New Zealand and the US.
On ASX, Reece Limited holds a market cap of around AU$ 10.113 billion. The company has not published any announcements on ASX since February 2022. REH shares were down 2.13% today. Reece Limited shares have depreciated by almost 44% on a YTD basis.
Price performance and dividend yield on Thursday afternoon
Image Source © 2022 Kalkine Media ®
Read along to know more on Magellan Global Fund and Cochlear Limited
Magellan Global Fund (Open Class) (Managed Fund) (ASX:MGOC)
Magellan Global Fund (Open Class) (Managed Fund) is an actively managed, AU$ unhedged fund investing in global equities, with a unit class size of AU$10,769.60 million as of April end. The fund has a management fee of 1.35%, and distributions are made semi-annually.
As per its latest published fund update on ASX, Magellan’s top holding includes Alphabet Inc, Intercontinental Exchange Inc. and Mastercard Inc. Notably most of the fund is invested in the Consumer defensive segment.
Cochlear Limited (ASX:COH)
Another noteworthy share on ASX today was healthcare stock Cochlear. While the healthcare sector was up 0.13% today, Cochlear shares went down over 1.23% to close at AU$214.27 a share.
No new announcement was made by the company on ASX today. However, the medical equipment company’s share price aligned itself to the broader market instead of its industrial sector movement.
While Cochlear Limited holds a market capitalisation of AU$14.26 billion, its share price has lost around 4.66% in the last 30 days.
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