Australia Market extends losses

Australia stock market finished session lower on Monday, 13 February 2023, extending losses to second straight day, with shares in retailers, tech, and financials being notable losers.

At closing bell, the benchmark S&P/ASX200 index was down 15.91 points, or 0.21%, to 7,417.75. The broader All Ordinaries index fell 16.61 points, or 0.22%, to 7,614.52.

Total 7 of 11 sectors ended lower along with the S&P/ASX 200 Index. Consumer discretionary was worst performing sector, erasing 1.4%, followed by information technology (down 0.58%), financials (down 0.38%), and healthcare (down 0.45%) sectors. Energy was the best performing sector, gaining 1.78%.

The top performing stocks in S&P/ASX200 index were INSURANCE AUSTRALIA and ENDEAVOUR GROUP, up 4.45% and 4.1% respectively. The bottom performing stocks in S&P/ASX200 index were THE STAR ENTERTAINMENT GROUP and IMUGENE, down 20.8% and 10.34% respectively.

Shares of retailers were worst performer. Consumer electronics giant JB Hi-Fi lost 5.1%, while Seek shares slipped 1.5%.

Financials were lower, with banking heavyweights CBA, NAB, ANZ and Westpac all ended the day in the red.

Energy was the only sector ending the day in the green, with gas and oil giant Santos gaining 1.7% and Woodside energy up 2.1%.

Endeavour Group added 4.1% to $7.10 after the alcohol retailer and hospitality company announced its first-half profit jumped 17% to $364 million.

CURRENCY NEWS: The Australian dollar was stood at 0.6935 against greenback on Monday, up by 0.26% from previous trading day closure at 0.6916 after trading in the range of 0.6891-0.6937.

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