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S&P/ASX 200 dips on the first day of FY22 after closing out its best year on record

Published: 13:48 01 Jul 2021 AEST

Alice Queen Ltd - S&P/ASX 200

S&P/ASX 200 (INDEXASX:XJO) has slipped 0.48% to 7,277.6 following mixed moves overnight on Wall Street, with the S&P 500 hitting another record high while the Nasdaq fell 0.2%.

The local index has surged 24% in the last 12 months for its best year on record.

On Thursday, consumer discretionary was the worst performing sector, down 1%, while consumer staples and financials were also about 0.8% lower.

Acquisition, demerger and sale

Online real estate advertising company REA Group’s (ASX:REA) shares slipped 0.56% after completing the $244 million acquisition of Mortgage Choice (ASX:MOC).

Endeavour Group (ASX:EDV) shares gained 2.78% after starting normal trading on ASX today following its demerger from Woolworths (ASX:WOW). It was trading under deferred settlement for the past week.

Westpac (ASX:WBC) has confirmed the $725 million sale of its general insurance business to Allianz which includes an exclusive 20-year right for Allianz to sell insurance products to Westpac customers.

Top gainers

Today’s top gainers on the ASX include Alice Queen Ltd (ASX:AQX) (+16.67%), Black Dragon Gold Corp (ASX:BDG) (+17.50%), Comet Resources Limited (ASX:CRL) (+12.50%), Elixinol Wellness Ltd (ASX:EXL) (+14.29%), PNX Metals Ltd (ASX:PNX) (+12.50%), Predictive Discovery Ltd (ASX:PDI) (+19.48%) and Rimfire Pacific Mining N L (ASX:RIM) (+11.11%).

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