The S&P/ASX 200 (INDEX:^AXJO) (ASX: XJO) closed 0.3% lower on Thursday.
Here’s a quick recap:
- S&P/ASX 200 lower at 5,741 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 5,780 points
- Australian Dollar (A$) (AUDUSD) at US 75.14 cents
- Iron Ore at US$87.19 a tonne, according to the Metal Bulletin
- Gold at US$1,204.00 an ounce
- WTI Crude oil at US$50.21 a barrel
In the past 24 hours, the Australian Dollar, iron ore, gold and crude oil all fell, taking mining shares along for the ride. In addition to BHP and South32, shares of Fortescue Metals Group Ltd (ASX: FMG) and Santos Ltd (ASX: STO) were among the worst performers.
Meanwhile, Qube Holdings Ltd (ASX: QUB) and Tatts Group Limited (ASX: TTS) pushed higher, finishing the day up 5% and 2.6%, respectively. Qube did not release any material news. However, Tatts shareholders appear to be applauding some news that the ACCC will undertake further investigation into its proposed merger with Tabcorp Holdings Limited (ASX: TAH).
The ACCC said it was a complex deal from a competition perspective, but it noted:
“The ACCC’s preliminary view is that the proposed merger is likely to substantially lessen competition in the supply of monitoring and other services to pokies venues in Queensland.”
In response, Tabcorp has told the ACCC it will divest its Queensland electronic gaming machine monitoring business.
The competition watchdog, which encourages high levels of competition in key markets, is also taking a closer look at the combined group’s market power with regards to its television wagering business.
Here are Thursday’s top stories:
- Why the Nextdc Ltd share price is rocketing today
- 3 Speculative micro-cap shares that could make you a fortune
- Revealed: 10 of the best growth shares to buy now
- Oil price plunges and takes Santo Ltd shares down with it
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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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