ASX 200 weekly wrap: Coca-Cola, Rio Tinto & BHP drop while Afterpay soars

The Australian share market was down last week, with some of the heavy losses coming from Coca-Cola Amatil and mining stocks.
Coca-Cola Amatil ASX 200
Source: TY Lim (Shutterstock)

The benchmark S&P/ASX 200 index was down 0.85% to 5,667 points at the close last week, and the All Ordinaries index fell 0.75% to 5,749 points.

Some of the biggest sectors were in the red last week, with consumer staples down 3.1%, energy down 2.6%, materials down 2.07% and health care down 1.47%, while the smaller information technology sector recovered some of the prior week’s losses with a gain of 6.63%.

Canstar’s General Manager of Wealth Josh Callaghan said the high growth tech sector was back in favour, with investors lifting shares in Afterpay, WiseTech Global and Technology One.

Reflecting falls across the mining sector, Rio Tinto and BHP Billiton experienced some of the steepest market value drops over the week, with dollar-value losses recorded in the billions.

In other notable movements, a big-name soft drink stock took a 15% hit to its share price last week.

Coca-Cola Amatil’s shares plummeted after the company announced on Friday it would not be able to meet its earnings growth target for the 2018/19 financial year.

The beverage giant also warned its 2017/18 annual results would be hit by $50 million in expenses and that it has decided to sell its loss-making SPC fruit and vegetable processing business.

Mr Callaghan said this news, combined with healthier lifestyle ambitions, might be starting to play on investors’ sentiment towards Coca-Cola.

“As the trend away from high sugared drinks continues – its Cola product still underpins its performance – investors may be starting to wonder what the future holds for CCL,” Mr Callaghan said.

ASX 200 Listed Companies – Top 5 Biggest Share Price Gains and Losses (23/11/2018 to 30/11/2018)
Biggest Gains Biggest Losses
Rank Company Closing Share Price % Change Rank Company Closing Share Price % Change
1 Afterpay Touch Group (APT) $14.42 27.7% 1 Coca-Cola Amatil (CCL) $8.64 -15.0%
2 WiseTech Global (WTC) $18.70 16.9% 2 BlueScope Steel (BSL) $11.23 -10.9%
3 Technology One (TNE) $6.23 13.7% 3 Aristocrat Leisure (ALL) $23.66 -8.8%
4 Appen (APX) $13.90 13.3% 4 Sims Metal Management (SGM) $10.70 -7.9%
5 Nextdc (NXT) $6.44 12.0% 5 Elders (ELD) $6.76 -7.5%
Prepared by Canstar. Prices taken as of week to week close.

The last round of the royal commission hearings wrapped up last week, which saw representatives from ANZ and National Australia Bank appear on the witness stand.

Despite this, those banks were among the best performers on the Aussie share market in terms of market value growth.

ANZ’s shares gained 1.7%, while NAB’s were 0.7% higher.

The royal commission’s final report, due in February next year, is expected to include recommendations that may shake up the financial sector and help prevent future misconduct across the banks.

ASX 200 Listed Companies – Top 5 Biggest Market Cap Gains and Losses   (23/11/2018 to 30/11/2018)
Biggest Gains Biggest Losses
Rank Company $ Change in Market Cap Closing Share Price % Change in Share Price Rank Company $ Change in Market Cap Closing Share Price % Change in Share Price
1 Australia and New Zealand Banking Group (ANZ) $1,319,198,634 $26.80 1.7% 1 BHP Billiton (BHP) -$2,762,054,351 $30.69 -2.7%
2 Resmed Inc (RMD) $1,154,202,340 $14.99 5.7% 2 CSL (CSL) -$2,228,553,788 $177.40 -2.7%
3 WiseTech Global (WTC) $815,776,661 $18.70 16.9% 3 Aristocrat Leisure (ALL) -$1,449,495,221 $23.66 -8.8%
4 Afterpay Touch Group (APT) $719,808,986 $14.42 27.7% 4 RIO Tinto (RIO) -$1,299,256,749 $73.28 -4.6%
5 National Australia Bank (NAB) $437,477,097 $24.64 0.7% 5 Coca-Cola Amatil (CLL) -$1,107,719,540 $8.64 -15.0%
Prepared by Canstar. Prices taken as of week to week close.

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