The ASX200 has been down 0.34% at 8,345 points, as the bourse pulls back from yesterday’s record highs.
Gold continues to jump, with rising demand for haven assets following an escalation of tensions in Russia’s invasion of Ukraine. Bullion traded above $US2,640 an ounce after advancing by more than two per cent over the first two days of the week.
To the sectors, Industrials, Telecommunication, and Energy have all been down around 1%, followed by Discretionary, down 0.9%. Utilities has been the sole sector to gain ground, up 0.25%.
Company News
Amcor (ASX:AMC) has been down 0.7% on news it’s merging with Berry Global Group (NYSE:BERY). The two packaging giants will unite in an all-stock deal worth $13 billion. Berry shareholders will receive 7.25 Amcor shares for each Berry share held, valuing Berry at $73.59 per share, a significant premium over Berry’s recent trading price.
Amcor has been $15.58.
PainChek (ASX:PCK) has been up 10.7% on news its applied for Food and Drug Administration (FDA) approval for its new PainChek Adult App. The application comes hot on the heels of completion of a US-based validation study.
PainChek has been 3.1 cents.
PWR Holdings (ASX:PWH) has been down 31% as investors reacted very negatively to the company’s trading update. Guidance says NPAT is expected to be down from $9.8 million to between $3.2 and 3.7 million.
PWR has been $6.20.