Australia: Market finishes lower on soft offshore cues, Santos slump

Australia stock market finished session at three-week low on Wednesday, 23 May 2018, as risk sentiments weighed by weak lead from offshore markets overnight, with energy stocks leading declines after oil and gas producer Santos rejected US-based firm Harbour Energy's US$10.8 billion takeover offer. The benchmark S&P/ASX200 dropped 0.16% to 6,032.5 points, while the broader All Ordinaries index shed 0.16% to 6,140.2 points. Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 616 to 565 and 418 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.45% to 13.621 a new 1-month high.

Powered by Capital Market - Live News