The S&P/ASX 200 Index dropped 0.3 per cent to 7131. BrainChip Holdings fell 7.5 per cent to 68¢ and Premier Investments lost 5.1 per cent to $24.85.
showed strong 6.3 per cent growth in November, reflecting a trend of increased spending during online sales such as Black Friday, and ahead of Christmas.Through the year, spending was 11.4 per cent higher, but such spending fell for a fourth consecutive month, suggesting a peak in spending was well past.Macquarie confirmed its preference for retailers with scale, market-leading and competitive brands, strong balance sheets, and exposure to low price points, in new research.
Macquarie has “outperform” ratings on Lovisa with a price target of $27, and Premier Investments, with a target of $29., 21 per cent below the long-term index average, the latest ANZ-Roy Morgan consumer confidence survey showed. BHP edged 0.4 per cent lower to $47.80, Rio Tinto shed almost half a per cent to $118.23 and Fortescue Metals firmed 0.7 per cent to $21.77.Recce Pharmaceuticals rose 4.6 per cent to 68¢ after it received a grant intent from the Australian Patent Office for an antivirus agent. Recce is developing a new class of synthetic anti-infectives to address antibiotic-resistant superbugs and emerging viral pathogens.
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