- ASX ended below the 7000 mark for the first time in a week.
- Nuix plunged after the company said it would miss revenue forecasts.
- Iron ore prices continue to move higher as demand continues to outstrip supply.
The ASX closed lower on Wednesday with information technology leading declines, down 1.93% while health care was up by 1.06%.
IDP Education was the best performing stock gaining 5.12%. Corporate Travel Management was up 3.52% with Smartgroup Corporation also adding 3.36%. Nufarm and Cleanaway Waste Management closed higher by 3.28% and 2.82% respectively.
Nuix was the worst performing company on the ASX, closing down 15.39%. This was followed by Whitehaven Coal which ended the day lower by 5.86%, Challenger down 5.58%, Lynas Corporation also losing ground at 5.3% and Appen lower by 4.52%.
Nuix?s plunging shares stole the spotlight today. The data analytics group hit record lows after it confirmed it will not meet the business forecasts set out in its IPO documents. It comes just months after its shares soared on their trading debut.
The Aussie dollar is trading lower against the Greenback buying 77.19 US cents, 83 Japanese Yen and ?64.17 cents.
Bitcoin is trending down, trading at US$55,585 at 5:01 PM AEST.
Iron ore is higher at US$178.54 per metric ton while one ounce of gold is worth US$1,766.
West Texas Crude oil is selling for US$63.13 per barrel while Brent oil is lower at US$64.67/barrel.