Insights

ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps

Australia and New Zealand Banking GrpLtd (ASX:ANZ) and Zip Co Ltd (ASX:Z1P) shares are on the move on the ASX 200 on Tuesday…
The post ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps appeared first on The Motley Fool Australia. –

red chart with downward arrow

At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. The benchmark index is down 0.85% to 6,613 points.

Here’s what has been happening on the market today:

ANZ CFO resigns.

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has come under pressure on Tuesday after announcing the exit of its chief financial officer (CFO). According to the release, the bank’s CFO, Michelle Jablko, has decided to leave the company and take up a senior role at toll road operator Transurban Group (ASX: TCL). Ms Jablko will transition her duties over the coming months to current Group General Manager Internal Audit Shane Buggle, who will be appointed Acting Chief Financial Officer.

Tech shares tumble.

Many of Australia’s leading tech shares are trading lower on Tuesday. The likes of Nearmap Ltd (ASX: NEA) and Zip Co Ltd (ASX: Z1P) are trading notably lower and weighing heavily on the the S&P ASX All Technology Index (ASX: XTX). The tech index is down a sizeable 1.2% lower at the time of writing. This follows a soft night of trade on Wall Street’s tech-focused Nasdaq index.

Iron ore price hits a nine-year high.

Mining giants BHP Group Ltd (ASX: BHP)Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) are all dropping lower today despite the iron ore price jumping higher overnight. According to CommSec, the spot iron ore price jumped a massive 7.8% higher to a nine-year high of US$176.90 a tonne. This has been driven by concerns over a supply outage at one of Vale’s mines in Brazil.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Tuesday has been the A2 Milk Company Ltd (ASX: A2M) share price with a 1.5% gain. Bargain hunters appear to be snapping up shares after a heavy decline last week. The worst performer has been the Ramelius Resources Limited (ASX: RMS) share price with a 7% decline. A number of gold miners are dropping lower today, but Ramelius is leading the pack.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!