The S&P/ASX 200 Index (INDEXASX: XJO) started the week in disappointing fashion after shedding 0.37% on Monday.
The benchmark index fell to 6,735.70 points as the All Ordinaries Index (INDEXASX: XAO) edged 0.31% lower to 7,020.20 points.
Information Technology (+0.78%) and A-REITs (+0.13%) were the only sectors to finish in the green on an otherwise disappointing day. The ASX 200 Energy (-1.15%) and Healthcare (-1.14%) sectors were the hardest hit on Monday.
Here’s a recap of yesterday’s biggest news, announcements and events.
1. Afterpay Ltd (ASX: APT) leads ASX 200 tech shares higher on Monday
The Afterpay share price was the top performer on the ASX 200 on Monday.
All 3 ASX 200 tech stocks pushed higher on Monday despite no market-moving news for quite some time.
Afterpay’s major competitor Zip Co Ltd (ASX: Z1P) did release a strong trading announcement, which could have boosted investors faith in the sector’s growth going forward.
2. Lithium miners continue to push higher in 2020
The ASX 200 lithium mining shares were also among the winners on Monday.
Orocobre Ltd (ASX: ORE) led the way with the pure play miner’s shares climbing 3.82% higher yesterday. That performance was closely followed by Pilbara Minerals Ltd (ASX: PLS) and Galaxy Resources Limited (ASX: GXY).
Yesterday’s performance continues a strong trend which has seen the three mining stocks rocket higher to start the new decade.
Orocobre shares are up 33.21% since 2 January, while Pilbara Minerals (+25%) and Galaxy (+27.96%) shareholders have seen similar gains.
3. Agriculture shares under pressure as bushfires burn
Shares in several big ASX 200 agriculture shares were once again under pressure on Monday as fires continue to burn across the country.
The devastating bushfire season has impacted Bega Cheese Ltd (ASX: BGA) but the company’s share price rebounded 1.13% yesterday.
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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. and RURALFUNDS STAPLED. The Motley Fool Australia owns shares of Appen Ltd. 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 Scott Phillips.
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