On Wednesday, gains in the tech and property sectors were counterbalanced by declines in the mining sector, following a 1.4 per cent increase in shares on Tuesday, prompted by the Reserve Bank’s decision to maintain interest rates and indicate data-dependent rate adjustments.
Perpetual (ASX:PPT), headquartered in Sydney, witnessed the sharpest drop on the benchmark index, plummeting by 7 per cent to $22.32, as its board approved a deal to divest its trustee and advice business to Kohlberg Kravis Roberts for $2.18 billion, with its $227 billion asset management business set to be spun off, pending shareholder approval by February.
At the closing bell, the S&P/ASX 200 was 0.14 per cent higher at 7,804.50.
Futures
The Dow Jones futures are pointing to a rise of 8 points.
The S&P 500 futures are pointing to a rise of 0.5 points.
The Nasdaq futures are pointing to a rise of 1.25 points.
The SPI futures are up 11 points.
Best and worst performers
The best-performing sector was Industrials, up 0.73 per cent. The worst-performing sector was Consumer Discretionary, down 0.36 per cent.
The best-performing large cap was Pro Medicus (ASX:PME), closing 2.82 per cent higher at $116.29. It was followed by shares in Atlas Arteria (ASX:ALX) and NEXTDC (ASX:NXT).
The worst-performing large cap was Paladin Energy (ASX:PDN), closing 2.83 per cent lower at $16.48. It was followed by shares in Mercury NZ (ASX:MCY) and Spark New Zealand (ASX:SPK).
Asian markets
Japan’s Nikkei has lost 1.63 per cent.
Hong Kong’s Hang Seng has lost 0.80 per cent.
China’s Shanghai Composite has lost 0.10 per cent.
Commodities and the dollar
Gold is trading at US$2,322.10 an ounce.
Iron ore is 1.2 per cent lower at US$118.75 a tonne.
Iron ore futures are pointing to a 2.9 per cent fall.
Light crude is trading $0.67 lower at US$77.71 a barrel.
One Australian dollar is buying 65.75 US cents.