Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 has been down 0.2% at 8,405 points.
The week has kicked off with mining and energy stocks being sold off in response to falling commodity prices; this proved to be a drag on the market.
The Australian dollar continues to be under pressure as markets price in an RBA cut in Q2 of next year, reflecting weakening economic growth and a softer labour market.
Energy has been the worst performing sector, down 1.15%, followed by Financials, down 0.6% and Information Technology, down 0.45%.
Real Estate has been the best performer, up 0.92%, and Discretionary, up 0.55%, and Telecommunication, up 0.45%.
Company News
Vulcan Energy (ASX:VUL) has been up 3.5% after Export Finance Australia (EFA) conditionally approved a $196 million commitment as part of its debt financing process. This will fund its Phase One Lionheart integrated lithium and renewable energy project.
Vulcan Energy has been $6.18.
Recharge Metals (ASX:REC) has completed its acquisition of the Carter Uranium Project in the Powder River Basin in Montana, U.S. The company raised $2.5 million through a share placement to expedite exploration activities at the site.
Recharge Metals has been $2.6 cents.
And, Woolworths (ASX:WOW) has been down 1.2% after suffering $140m in lost sales due to the 17-day strike at its distribution centres in NSW and Victoria. The company says around $60m will be cut from the earnings of its Australian food division.
Woolworths has been trading at $30.28.
-1200x645-380x200.jpg)
