The ASX200 has been down 0.6% at 8,280 points.
The Aussie market has fallen ahead of critical US jobs data. Goldman Sachs has warned that US stocks are “priced for perfection” and “vulnerable to a correction” driven either by rising bond yields or disappointments on growth in economic data or earnings.
Back home, nearly all sectors are bleeding red today, and Financials has been the worst performer, down 1.6%, followed by Staples, down 1% and Health Care, down 0.9%.
Company News
Insignia Financial (ASX:IFL) has been down 2% after rejecting speculation global investment firm Brookfield Asset Management will launch a takeover bid. Insignia has told the ASX it has not been approached by Brookfield. The statement comes amid ongoing takeover interest, as Insignia has already received two other offers in recent months.
Insignia Financial has been $4.12.
Company 2
Orbital Corporation (ASX:OEC) has been up 4.6% on receipt of a $4.3 million grant from the federal government. The funds compensate for the company’s R &D spend in FY24, supporting its ongoing investment in new engine model development.
Orbital Corporation has been 11.5 cents.
Western Gold Resources (ASX:WGR) has been up 7.9% after completing a capital raise that secured $720,000 via a share placement. The placement was conducted at 4 cents per share, representing a 28% premium.
Western Gold Resources has been 4.1 cents.