1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The S&P/ASX 200 declined 1.13% to 8,686.10 points on Thursday, as investors sold mining positions.
Iron ore prices dropped to a two-month low as shipments from a West African mine surged. BHP shed 3.3%, retreating from record highs. Gold also weakened as the Middle East conflict persists, with Pantoro Gold shares falling 7.8%.
Banks gave back some of the previous session’s gains, as Westpac shed 2.14%.
Defensive sectors fared better, with healthcare and consumer staples up 0.73% and 0.88% respectively.
Treasury Wine Estates soared 13.2% after annoucing a review of its underperforming operations. The wine exporter also said it will cut vineyards in Australia and New Zealand by 30%.
In international markets, SpaceX is gearing up for an IPO next week, with a US$135 share price. This would value the company at more than US$1.75 trillion and place it among the world’s ten most valuable companies.
