Australia Market finishes lower

The Australian share market finished session lower on Monday, 31 August 2020, as investors remained cautious ahead of the central bank's cash rate decision

At closing bell, the benchmark S&P/ASX200 index dropped 13.35 points, or 0.22%, to 6,060.46. The broader All Ordinaries fell 14.91 points, or 0.24%, to 6,245.89.

The big banks also helped pull the index lower, with the Commonwealth Bank falling by 1.2% and ANZ losing 0.7%.

Iron ore miner Fortescue Metals lost 7.7% as it traded ex-dividend. Lithium miner Orocobre dropped 10.3% after it returned to trade following a capital raising.

Buy now, pay later firm Sezzle dropped by 9.4% after its half-year loss widened from A$4.8 million a year ago to $8.2 million.

 

Online furniture and homewares firm Temple and Webster rose 18% after it saw annual profit surge by nearly 270% to A$13.9 million because of COVID-19 lockdown purchases.

CURRENCY NEWS: The Australian dollar changed hmands at $0.7351 after rising from levels below $0.726 last week.

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