Materials and industrials were the best performing
sectors, increasing 0.8 and 0.7 per cent respectively. On the other hand, Healthcare dropped 1.3 per cent and Real Estate fell 1.1 per cent.
Phosphate producer Mosaic Co lead the S&P with gains of 5.0 per cent at the time of writing. This brings the company to a share price of US$54.95, over 36.0 per cent up year to date.
Closely behind was fiber-based paper and packaging solutions provider Westrock Co, up 4.8 per cent. Despite this strong performance the company is down 11.6 per cent over the past week.
Invesco rounds out the top three performers with a 4.1 per cent jump in its share price to US$16.75.
Moderna experienced the biggest losses, falling 9.7 per cent. The World Health Organisation (WHO) is currently trying to develop its own Covid vaccine.
Marketaxess Holdings was also in the red at the time of writing, down 5.5 per cent.
After a strong performance throughout September, Edward LifeSciences drew back 5.4 per cent.
US home builder sentiment continues to decline with the NAHB housing market index dropping three points to 46 this month. This decrease represents the ninth month in a row that home builder sentiment has declined.
Rest of the World
European markets were mixed overnight. The DAX was up 0.5 per cent and the CAC dropped 0.3 per cent.
The FTSE was closed for the Queen's funeral.
All the major Asian markets closed in the red. The Nikkei performed the worst after dropping 1.1 per cent. This was followed by the Hang Seng, down 1.0 per cent and the Shanghai Composite with a 0.4 per cent loss.
Commodities
Both WTI Crude Oil and Brent oil gained 0.5 per cent to US$85.60 and US$91.80 per barrel respectively.
The metals market did not have any major movements with gold down 0.3 per cent and silver losing 0.1 per cent.
The US 10-Year Treasury rate gained three basis points to 3.481 per cent. This brings the treasury rate back to the highs seen in June this year.
Bitcoin and Ethereum were in the red at the time of writing, down 3.5 and 3.2 per cent respectively.
New Zealand
The NZX50 closed 0.4 per cent lower to start the week.
Synlait Milk was the top performer, lifting 1.7 per cent.
The dairy company completed two key projects to facilitate a reduction of greenhouse gas emissions of 38,000 tonnes of carbon dioxide equivalent (tCO2e) in the 2023 fiscal year, and 58,000 tCO2e in the 2026 fiscal year, when the projects reach capacity.
Retirement village operator Ryman Healthcare gained 1.1 per cent.
Ebos Group also improved 1.1 per cent. The wholesale, distribution and marketing firm announced that the dividend reinvestment plan (DRP) strike price has been set at $37.63 per share.
This price will be used to calculate the number of shares allocated to DRP participants choosing to collect additional shares instead of cash.
Cancer diagnostics company Pacific Edge dropped 5.9 per cent. Transportation technology firm Eroad slipped 5.7 per cent. Travel management business Serko rounded out the laggards with a 4.0 per cent decline.
Australia
The ASX closed down 0.3 per cent on Monday, losing 19.2 points to 6,179.9 to set a new 20 day low.
Sectors ended mixed, with five closing higher. The Australian real estate investment sector was the top gainer, up 1.2 per cent. Materials and Consumer discretionary also increased, rising 0.3 per cent and 0.2 per cent respectively.
Energy (-1.1 per cent), healthcare (-1.0 per cent) and information technology (-0.9 per cent) were the worst performing sectors last night.
Lake Resources lifted 12.9 per cent after the company released an announcement that despite earlier disputes on the due date, the Kachi Lithium Project in Argentina is ongoing, and the parties are confident in the success of the operations.
It is expected that Lilac will begin on site processing of Kachi brines in the first week of October.
Mining companies Pilbara Minerals and OZ Minerals also increased, gaining 4.1 per cent and 3.9 per cent.
Leading the decliners was Sayona Mining Limited, losing 8.6 per cent. On Friday the company posted an update on their North American Lithium operation, reporting it is on track for Q1 2023 with 94% of procurement completed.
Magellan Financial Group fell 5.8 per cent following the continuation of its on-market share buyback that was announced in April this year.
Qube Holdings dropped 4.9 per cent after going ex-dividend.
Dividends from BHP, Rio Tinto, Telstra and others are set to be paid this week, pushing more than A$18 million into Australian investors bank accounts.
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All market pricing and announcements are sourced from Refinitiv, NZX and ASX.
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