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S&P/ASX 200 ends in red but gold miners continue to rise

Saracen Mineral gained 6.1% to $3.85 and St Barbara Limited climbed 5.5%

asx boards
Domino’s Pizza shares dropped 7.2%

S&P/ASX 200 (INDEXASX:XJO) closed down 7 points or 0.1% to 6,658 as investors remained cautious ahead of the G20 Summit in Japan on Friday.

US President Donald Trump is scheduled to meet with his Chinese counterpart Xi Jinping on Saturday in what will be their first face-to-face meeting since trade talks stalled in May.

Gains for gold miners

The ASX joined Asian markets in negative territory today with falls in the financial, IT, utilities, energy and industrials sectors outweighing gains in the telco, materials, consumer staples and healthcare sectors.

Gold miners were among the best performers as investors searched for safety.

Saracen Mineral (ASX:SAR) gained 6.1% to $3.85, St Barbara Limited (ASX:SBM) rose 5.5% to $3.08, while Resolute Mining (ASX:RSG) climbed 3.7% to $1.255.

Pizza and fried chicken

Domino’s Pizza Enterprises (ASX:DMP) dropped 7.2% to a four year low of $36.30 after being hit by a class-action lawsuit claiming the company and its franchises underpaid workers for five years.

Collins Foods (ASX:CKF) gained 0.7% to $7.72 after reporting a 16.9% lift in full-year revenue to $901.2 million.

The company’s net profit jumped 20.3% to $39.1 million boosted by strong food delivery app sales at its Australian KFC network.

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