The Australian stock market started the week positively on the news that the US Federal Reserve is likely to cut interest rates soon. At 11:45am, the S&P/ASX 200 is 0.61 per cent higher at 8,072.80. The Australian dollar also rallied against the US dollar. Some individual company stocks also showed significant changes. Bendigo & Adelaide Bank's share price increased despite a profit decline, while Kelsian Group's share price dropped after announcing a major reinvestment. Online retailers Adore Beauty and Kogan.com's share prices increased after returning to profitability, while Perpetual's share price fell due to large investment outflows.
The SPI futures are pointing to a rise of 62 points.
Best and worst performers
The best-performing sector is REITs, up 1.67 per cent. The worst-performing sector is Consumer Staples, down 0.48 per cent.
The best-performing large cap is James Hardie Industries plc (ASX:JHX), trading 4.18 per cent higher at $53.88. It is followed by shares in SEEK (ASX:SEK) and Seven Group Holdings (ASX:SVW).
The worst-performing large cap is Endeavour Group (ASX:EDV), trading 5.88 per cent lower at $5.21. It is followed by shares in Whitehaven Coal (ASX:WHC) and Bendigo and Adelaide Bank (ASX:BEN).
Commodities and the dollar
Gold is trading at US$2549.90 an ounce.
Iron ore is 1.0 per cent lower at US$96.0 a tonne.
Iron ore futures are pointing to a 0.96 per cent rise.
One Australian dollar is buying 67.87 US cents.
