ASX sheds early gains to fall flat in afternoon trade

Summary

• The ASX 200 rose 1.1% before shedding gains. The index was flat at 3pm 
• Asian markets opened higher on better than expected US jobs report and Chinese service sector growth
• The US set a new record for coronavirus infections: 51,000 in a single day ahead of the Independence Day long weekend. 
• Adbri shares lost more than 25 per cent after Alcoa decided to end a 50-year supply relationship