Australia Market closes unchanged

The Australian share market finished volatile session on a flat note on Friday, 22 October 2021, as losses in mining and energy sectors were offset by gains in healthcare stocks. At closing bell, the benchmark S&P/ASX200 rose marginal 0.11 point, or 0.00%, to 7,415.48. The broader All Ordinaries index shed 1.73 points, or 0.02%, to 7,726.78.

The top performing stocks in the S&P/ASX200 index were HEALIUS and WESFARMERS, up 4.00% and 3.17% respectively. The worst performing stocks in the S&P/ASX200 index were LYNAS RARE EARTHS and AURIZON HOLDINGS, up 8.06% and 6.17% respectively.

Shares of materials and resources were down due to plunging iron ore prices and uncertainty related to possible bond defaults from China Evergrande Group, with BHP, Rio Tinto and Fortescue were down between 0.7% and 2.2%. Lynas Rare Earths shares sank 8.1% after a quarterly report saw a drop in sales revenue and receipts.

 

Energy stocks fell, as oil prices dropped overnight, with heavyweights Woodside Petroleum and Santos down 2.8% and 2.2%, respectively.

CURRENCY NEWS: The Australian dollar changed hands at $0.7485, holding on to gains after climbing from below $0.744 earlier this week.

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