Australian Share Market Up As The Afterpay (APT) Stock Price Flies

The Australian share market or All Ordinaries (ASX: XAO) was down 0.62% at lunch today.

Despite the downward trend the Afterpay Touch Group Ltd (ASX: APT) share price jumped more than 10% after investment bank Goldman Sachs rated the company’s stock a buy.

Some global financial news is causing investors to be turned off the fast-growing internationally-focused high-priced share darlings such as Pro Medicus Limited (ASX: PME), which is down over 5%, and Magellan Financial Group Ltd (ASX: MFG), which is down 4%.

Dental business 1300 Smiles Limited (ASX: ONT) has seen its share price fall 1% as news broke of its acquisition pursuits of Maven, although it faces stiff competition from BGH.

Next up, shares of dairy giant Fonterra Shareholders’ Fund (ASX: FSF) were up 0.3% after announcing it could reduce debt by $1 billion after some asset sales.

Finally, ASX gold miners are having a bit of a resurgence with market pundits and investors worrying about geopoltical problems. For example, the Evolution Mining Ltd (ASX: EVN) share price was up around 2% at the time of writing.

At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.

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