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The ASX200 is in the red on Friday, trading down around point six five percent in early afternoon trades.
Perhaps the biggest news for ASX watchers today is the Friday listing of the DigiCo data centre REIT, which will offer a glimpse into Australian investors’ appetite for the increasingly popular asset class.
Materials was the worst sector on Friday down nearly -2% after the sector saw a midweek boost on the back of renewed Chinese stimulus calls. As if we haven’t had enough of those already.
Real Estate was second worst hit down nearly point nine percent; next was utilities, down point six four.
In company news, Rio Tinto has spent $2.5 billion on an expansion of its Argentinian lithium mine to produce 60,000 tonnes per year. Good thing it’s got the cash to afford such an endeavour while prices remain under pressure of surplus supply.
Rio last traded at $120.97 per share.
DigiCo has listed on the ASX, falling point ten of a percent to just under $5 per share on its debut Friday.
The company’s overall volumes were fairly muted despite some degree of anticipation surrounding the IPO, however, it’s fair to say data centre real estate investment trusts may not have immediate sex appeal for many retail traders.
Finally, insurance broker Steadfast Group has confirmed two of its employees are being investigated by ASIC over allegations of insider trading.
The alleged incidents occurred between August and September of this year with ASIC asking for the Board to cough up key documents.
Steadfast last traded flat at $5.80 per share.
That’s Market Update, I’m Jonathon Davidson, stick around for Market Close in a few hours time.
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