ASX 200 Drops 0.52% as Coles Slides After ACCC Blocks Kalgoorlie Deal
Updated
Updated · Capital Brief · Jul 1
ASX 200 Drops 0.52% as Coles Slides After ACCC Blocks Kalgoorlie Deal
2 articles · Updated · Capital Brief · Jul 1
Summary
45.7 points were wiped off the ASX 200 by 10:34 a.m. AEST, leaving the benchmark at 8,733 as seven of 11 sectors opened lower.
Coles fell 4.8% and dragged consumer staples down 3.8% after the ACCC blocked its proposed acquisition of a supermarket and liquor site in Kalgoorlie.
Investors also stayed cautious ahead of further clarity on a planned US-Iran meeting, while telecoms joined the selloff despite stronger overnight leads from Wall Street.
South32 jumped 8.8% after selling aluminium value-chain assets to Alcoa, and IperionX rose 8.5% on a $9.5 million US government titanium contract.
Attention now turns to May building approvals due at 11:30 a.m. AEST, the next local data point for a market that opened weaker than futures had implied.