The S&P/ASX200 has fallen as predicted today, shedding 0.92% or 65.2 points to 7,049.3. The index has gained 0.24% over the last five trading days but remains at a 5.31% loss for the year to date.
The worst performing stocks in the ASX200 were Magellan Financial Group Ltd (ASX:MFG) (-10.53%) and Block Inc (NYSE:SQ), (-6.32%), while the best performing were Nib Holdings Ltd, (+7.63%) and Pilbara Minerals Ltd (ASX:PLS) (+3.61%).
Tin (+1.62%), copper (+0.53%), and zinc (+0.43%) were the only commodities to climb today, with lead taking the biggest hit (-4.40%).
All eleven sectors were down today, none more so than Consumer Discretionary, which shed 1.92%.
In the news today
Australians struggling to afford basic necessities
New data from Finder.com has revealed that 19% of Australians have had a purchase at check out decline in the last three months – that's 3.8 million Australians who are struggling to buy basic necessities.
The research found 11% have had to abandon their purchase, while 8% have had to return items in order to pay for their shop.
A worrying symptom of inflation, grocery bill stress has also hit a record high, with 37% of Australians ranking grocery costs as one of their top three most stressful expenses, up from 28% in March.
Senior editor of money at Finder Sarah Megginson said Aussies are struggling as a result of the cost-of-living crisis.
“So many people are scraping the bottom of the barrel right now. It’s really distressing to be in a position where you can’t afford your groceries or fuel,” she said.
“Australians are being left embarrassed at the check-out as increases to household bills means there’s just not much money left in the bank.”
Megginson said 2022 was the ‘perfect storm’ for struggling finances.
“Soaring food costs, high energy bills and rising interest rates and rents are the three key areas that are hurting households the most right now.”
According to the Foodbank Hunger Report 2021, unexpected bills or expenses was the leading cause of food security – a pressure 35% of Australians currently experience.
How to save money on your groceries according to Finder:
- Track your spending. Budgeting works best when you follow a strict household budgeting template and track your spending. The easiest way to do this is by using mobile budgeting apps, such as the Finder app.
- Understand your spending habits. Do you stick to your shopping list? Do you even make a shopping list? What brands do you find yourself reaching for? Understanding your spending habits and eliminating expensive practices could drastically reduce your average grocery bills.
- Plan in advance. Set aside some time at the end of each week to plan your upcoming meals. This will help to reduce the likelihood of you ordering in or dining out. It will also help you create a cheaper, more accurate shopping list.
- Keep an eye out for discounts. Supermarkets will offer different deals and exclusive discounts so check out the online catalogues before you buy.
The Five at Five
Anson Resources releases major resource upgrade at Paradox Lithium Project in Utah, USA
Anson Resources Ltd (ASX:ASN)'s upgraded mineral resource represents a 324% increase on the lithium resource the company reported in March of last year. Shares rose accordingly.
Auric Mining edges closer to commencing gold mining at Jeffreys Find; shares move up
Auric Mining Ltd (ASX:AWJ) is a step closer to unveiling the commercial potential of the Jeffreys Find deposit in Western Australia after signing an agreement for open pit gold mining with Kalgoorlie-based BML Ventures Pty Ltd.
Recce Pharmaceuticals doses anti-infective trial’s seventh cohort with no serious adverse effects
Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF)'s Recce 327 is allegedly the only clinical-stage new class of antibiotic in the world being developed for sepsis — the largest unmet medical need in human health.
Yandal Resources logs initial mineral resource of 44,000 ounces of gold for Challenger at Mt McClure
Yandal Resources Ltd (ASX:YRL) used historical data as well as results from 783 reverse circulation (RC) and two diamond drill (DD) holes to compile the August 2022 estimate reported above 1.0 g/t gold lower cut-off grade.
Nova Minerals hits 78 metres @ 16.0 g/t gold within 258 metres @ 5.1g/t at RPM within the Estelle Gold Trend
Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF)'s exploration efforts are focused on identifying large-scale resource extensions and new large-scale discoveries, within more than 50 holes drilled at RPM and Korbel yet to be reported.
On your six
The hydrogen companies leading the green energy transition
Hydrogen demand is expected to grow fivefold by 2050, according to McKinsey’s latest global energy perspective.
One for good luck
Cyber hygiene: tame your spam with email aliases
Using an email alias helps to protect your real email address against spam.