Market Update Graphic
Source: The Market Online
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Christmas is fast approaching and the ASX200 has been down 0.35% at 8,267 points. The Santa rally has so far failed to materialise as the latest round of Chinese stimulus underwhelmed investors.

The Iron Ore price is steady at around US$103.75 per tonne in Singapore after sliding on the weekend.

Materials has been the poorest performing sector, down 1.6%, followed by IT and Real Estate, both down around 0.65%.

Utilities has been the best, up 0.3%, followed by Industrials and Financials, up 0.2%.

Company News

Online retailer Kogan (ASX:KGN) has been down 1% on the news ASIC is investigating a potentially controversial options deal involving two of its senior executives, including founder Ruslan Kogan. The deal netted $17 million in profits for the executives and the company is cooperating with the investigation.

Kogan has been $5.60.

Fortescue (ASX:FMG) has been down 2.4% as analysts at Bell Potter retain their Sell rating saying it’s ‘hard to see the upside.’ The broker notes certain high-grade ores which are more carbon efficient may encounter specific tailwinds in the new year.

Fortescue has been $18.81.

Invex Therapeutics (ASX:IXC) has had success simulating the use of Exenatide to improve cell survival in a 3D ‘human brain model’ of Alzheimer’s disease.

Invex Therapeutics has been 7.4 cents.

More From The Market Online
Close up of a nasal spray

LTR Pharma pairs with Men’s Health Downunder for supply of erectile dysfunction spray

LTR Pharma Ltd has signed an agreement with Men's Health Downunder to facilitate supply of its…
The Market Online Video

ASX Market Open: Pre-Chrissy slowdown to turn into full-blown plunge after Powell preaches caution | Dec 19, 2024

Hesitation from Jerome Powell and the Federal Reserve regarding U.S.
The Market Online Video

ASX Market Close: Index pares gains to close flat | December 18, 2024

The ASX200 closed flat and down just 0.06% at 8,309points. Industrials was the strongest performing sector,…
Market Update Graphic

ASX Market Update: Insignia rejects Bain bid as bourse rises | December 18, 2024

Christmas is one week away and the ASX200 has been up 0.25% at 8335 points.