At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) has started the week in a disappointing fashion. The benchmark index is currently down 0.5% to 6,003.3 points.
Here's what has been happening on the market today:
South32 update.
The South32 Ltd (ASX: S32) share price has taken a tumble after the release of its fourth quarter update. South32's update revealed record production at its Brazil Alumina, Hillside Aluminium, and Australia Manganese mines in FY 2020. However, the mining giant's Illawarra metallurgical coal production was below guidance. This was attributed to challenging strata conditions during the final quarter.
Sydney Airport traffic update.
The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price is dropping lower on Monday after the release of its traffic update for June. According to the release, a total of 172,000 passengers passed through its gates during the month. This was down 94.9% on the prior corresponding period's ~3.4 million passengers. This comprised 32,000 international passengers (down 97.6%) and 140,000 domestic passengers (down 93.3%).
HUB24 record quarter.
The HUB24 Ltd (ASX: HUB) share price is pushing higher on Monday after revealing a record performance in the fourth quarter. The investment platform provider recorded a net inflow of $1.1 billion for the quarter, which together with favourable market movements, lifted its funds under administration by 14% or $2.1 billion to $17.2 billion. This means that its average monthly net inflows during FY 2020 was $412 million, up 26% from $326 million per month in FY 2019.
Best and worst ASX 200 shares.
The BlueScope Steel Limited (ASX: BSL) share price is the best performer on the ASX 200 with a 3.5% gain. This morning analysts at Macquarie retained their outperform rating and lifted their price target on the steel maker's shares to $12.55. The worst performer on the ASX 200 has been the Super Retail Group Ltd (ASX: SUL) share price with a 5% decline. This is despite there being no news out of the retailer today.
