At closing bell, the benchmark S&P/ASX200 index was down 39.77 points, or 0.53%, to 7,490.30. The broader All Ordinaries index fell 44.69 points, or 0.58%, to 7,695.80.
All 11 sectors ended lower along with the S&P/ASX 200 Index. Utilities was worst performing sector, erasing 2.73%, followed by A-REIT (down 1.63%), information technology (down 1.13%), and consumer staples (down 0.83%) sectors.
The top performing stocks in S&P/ASX200 index were DE GREY MINING and IDP EDUCATION, up 12.78% and 7.69% respectively. The bottom performing stocks in S&P/ASX200 index were AGL ENERGY. and CORONADO GLOBAL RESOURCES INC., down 10.33% and 6.05% respectively.
Utilities stocks declined the most on the index, as results from AGL were very disappointing and below expectations. AGL Energy was down 9.6%, as it posted a loss of more than $1 billion for the December half and a 55% slump in underlying profit. For the six months ended Dec. 31, AGL reported underlying profit after tax attributable of A$87 million, below A$194 million a year earlier. On a statutory basis, AGL reported loss attributable of A$1.08 billion compared with a profit of A$555 million last year, having incurred a A$706 million impairment charge from bringing forward the closure of its Loy Yang A coal power station by 10 years.
Shares of materials and resources were also lower. Coal miners Whitehaven Coal and New Hope Corporation fell 5.6% and 4.4%, respectively.
ECONOMIC NEWS: Australian Bureau of Statistics said on Thursday that the total number of building permits issued in Australia was up a seasonally adjusted 18.5% on month to 16,556 in December, following the 8.8% drop in November. On a yearly basis, overall permits lost 3.8%.
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CURRENCY NEWS: The Australian dollar was stood at 0.6959 against greenback on Thursday, up by 0.51% from previous trading day closure at 0.6924 after trading in the range of 0.6922-0.6965.
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