1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
The local market attempted a comeback today, but in the end it was weighed down by local and global uncertainty. The S&P/ASX200 finished 0.25% lower at 8160.
The retail sector was in focus with Coles falling 0.6% as September quarter sales fell below expectations. Woolies extended yesterday's losses to be down another 2.8%. Meanwhile, in the discretionary space, JB Hi-Fi rose 5.3% as it saw quarterly sales growth. And Wesfarmers was little changed as its chairman defended the conglomerate's large profits.
The mixed performance of consumer facing stocks was reflected in September's retail sales which rose just 0.1% for the month.
Mineral Resources rallied 9.2% after agreeing to sell its gas exploration rights to Gina Rhinehart's Hancock Prospecting for $1.1 billion. Elsewhere among the miners, BHP and Rio lost around 1%, while the major gold producers suffered from profit taking as the gold price climbed above US$2,800 to another record.
AGL (-6%) dragged the utilities sector lower after it copped a broker downgrade, while Origin Energy rose 1.4% as it saw its liquid natural gas revenue rise in the September quarter.
Tonight, amid the uncertainty of the US election outcome, we get the release of the US core PCE price index. And tomorrow at home, the Producer Price Index for the September quarter.
