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Australian Share Market Up As The Afterpay (APT) Stock Price Flies

Jaz Harrison

Jaz Harrison

Jaz is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Jaz Harrison

Jaz Harrison

The Australian share market or All Ordinaries (ASX: XAO) was down 0.62% at lunch today.

Despite the downward trend the Afterpay Touch Group Ltd (ASX: APT) share price jumped more than 10% after investment bank Goldman Sachs rated the company’s stock a buy.

Some global financial news is causing investors to be turned off the fast-growing internationally-focused high-priced share darlings such as Pro Medicus Limited (ASX: PME), which is down over 5%, and Magellan Financial Group Ltd (ASX: MFG), which is down 4%.

Dental business 1300 Smiles Limited (ASX: ONT) has seen its share price fall 1% as news broke of its acquisition pursuits of Maven, although it faces stiff competition from BGH.

Next up, shares of dairy giant Fonterra Shareholders’ Fund (ASX: FSF) were up 0.3% after announcing it could reduce debt by $1 billion after some asset sales.

Finally, ASX gold miners are having a bit of a resurgence with market pundits and investors worrying about geopoltical problems. For example, the Evolution Mining Ltd (ASX: EVN) share price was up around 2% at the time of writing.

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At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

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