Join our daily newsletter At The Bell to receive exclusive market insights
The ASX 200 traded lower today, down half a per cent to just above 7931.7 points.
The Biden announcement was adding to investor uncertainty, with the first trading session in the US still to come. However, US market futures have been in the green this afternoon.
Over the last ten days the Australian dollar has dropped from US$0.68 cents down to US$0.67.
The price of gold rallied this morning but pared gains to sit just above US$2,400 per ounce.
Perhaps inline with a move to safer havens, Consumer Staples was the only sector to make any real gains today, up 0.65%.
In the Green
In line with that, Coles Group (ASX:COL) closed up more than three quarters of a per cent ( 0.79%).
Coles has closed at $17.77.
Wholesale grocery distribution and marketing company Metcash Ltd (ASX:MTS) rose more than one and a half per cent (1.54%)to $3.62.
And financial services software company Iress Limited (ASX:IRE) gained more than 9% as it lifted expectations for its adjusted EBITDA for this half year by 50%, from $44 million to up to $67 million.
Iress closed at $9.85.
In the Red
South 32 (ASX:S32) closed down about 13% after its Quarterly Report booked an US$818 million impairment – related to its Australian and Columbian mines. It included an impairment on the Worsley Alumina bauxite mine, with the EPA imposing conditions deemed difficult for operations.
South 32 closed at $2.99.
Droneshield (ASX:DRO) lost 21% per cent after posting an earnings miss. The company has had meteoric improvements in its valuations recently.
Droneshield closed just below $1.50. ( $1.49).
Mineral exploration company IGO (ASX:IGO) closed down more than 3% after announcing an impairment of up to $295 million. This related to a revaluation of the Silver Knight and Mt Goode nickel exploration assets.
IGO closed at $5.74.
