• ASX loses ground after 3-day high in opening gains.
  • Retail sales turnover rise 1.1 % in April.
  • Sydney Airport plans to net zero carbon by 2030.

The ASX has dropped into the red by around 8 points at midday after rising 0.5% to a 3-day high of 7056.40 in early trade. Energy stocks are leading declines, down -2.37%, while information technology is higher by 2.25%.

Looking at the top 5 biggest gainers in morning trade, EML Payments is the best performing stock up 14.78%. The a2 Milk Company gained 5.56% with Webjet also adding 5.15%. Xero and Corporate Travel Management were trading higher by 4.78% and 4.07% respectively.

Nufarm is the worst performing stock on the ASX/200, leading declines and currently down 5.35%. Appen is lower by 4.91% with Sims also losing ground at 4.29%. Santos and Bluescope Steel are currently trading lower, down 4.18% and 3.52% respectively.

Making headlines, Australia's retail sales turnover rose 1.1% in April, which was a 25% increase from the same period last year according to preliminary figures released by the Australian Bureau of Statistics (ABS).

In further news, Sydney Airport is backing calls to speed up the pace of vaccinations to enable international borders to reopen faster as it announced plans to cut its carbon footprint to Zero and switch to renewable energy by 2030.

The Aussie dollar is trading lower against the Greenback buying 77.56 US cents, 84 Japanese Yen and ?63.43 cents.

And Bitcoin has regained some of its losses, trading at US$41,547 at 12:21 PM AEDT.

In commodities, iron ore is lower at US$211.15 per metric ton while gold has risen 9.3% to now be worth US$1,869. West Texas Crude oil is down 2.13% at US$63.36 per barrel while Brent oil is lower by 0.5% at US$67.64/barrel.