Ex-div trade weighs on ASX, BHP drops 6.8%, iron ore lower

ASX loses ground for second day, closing 0.6 per cent lower amid ex-dividend falls. Investors ditch BHP and CSL. Trade balance, home loans data higher.

September is traditionally a challenging month for stock markets. Picture: Gaye Gerard

Welcome to the Trading Day blog for Thursday, September 2. The ASX 200 closed 0.6 per cent lower with CSL, BHP and NIB trading ex-dividend.

Global markets mostly rose as investors brushed off lacklustre US jobs data and fears about the Delta Covid variant. Wall Street closed mixed, with  the Nasdaq up 0.5 per cent, the S&P 500 less than 0.1 per cent higher and the Dow down around 0.1 per cent. European markets were also mixed.

Oil prices eased after the world’s leading oil producers decided to uphold a deal reached just over a month ago to boost output gradually despite US pressure to go further.

BHP closed 6.8 per cent lower as the miner traded ex-dividend. Mining giant held a webcast Q&A with shareholders following recent financial results. The Australian dollar is slightly stronger against the US dollar. Iron ore prices slumped overnight.

Australia's trade balance rose to $12.12bn in July versus $10bn expected by economists. The value of home loans rose 0.2%, which was expected, according to Bloomberg.