The Mid Market Pulse || ASX Falls; S&P Ups Australia Sovereign Rating To ‘Stable’

This is The Mid Market Pulse. Lets get started with the mid market commentary for today

• Australian share market continued to trade lower by afternoon, bucking the global trend, as investors resorted to profit booking after recent rally. Standard & Poor’s (S&P) has revised its long-term rating for Australia from ‘negative’ to ‘stable’, citing the Morison government’s swift repose to the coronavirus pandemic.

• The S&P/ASX200 is trading 8.70 points or 0.12 per cent lower at 7286.70 after setting a new 100-day high. 

• Altium  is top percentage gainers on ASX, rising 34% to $36.40. Nuix, Centuria Industrial REIT , Austal and Appenare among other top performers.  

• Shares of National Australia Bank dropped nearly 3 per cent to $26.69 after Australia's financial crime fighting agency launched probe into suspected non-compliance with anti-money laundering laws.

• shares of Crown Resorts dropped 0.9 per cent to $12.58, while SkyCity shares fell by 4.5 per cent to $3.24. 

•  Estrella Resources shares climbed 6.25 per cent to 6.8 cents. 

• Clinuvel Pharmaceuticals has administered drug ‘afam-elan-otide’ to the first patient diagnosed with an acute arterial es-keem-ic stroke (AIS) enrolled in the world’s first clinical trial (CUV801).

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