Australia Market ends lower

The Australian share market finished lower in holiday-thinned trade on Monday, 26 April 2021, as losses in major banks and consumer stocks were more than offset by gains in miners on historically high iron ore prices. At closing bell, the benchmark S&P/ASX200 declined 15.10 points, or 0.21%, to 7,045.60. The broader All Ordinaries fell 12.91 points, or 0.18%, to 7,307.80.

Volumes were down, perhaps on account of Anzac Day public holidays in Western Australia, Queensland, ACT, South Australia, and the Northern Territory.

Among ASX sectors, utilities, consumer staples and telecom declined 1%, 0.95% and 0.84% respectively, while materials rose 0.36%. Property and financials also finished in the green.

 

Shares of materials and resources closed higher, thanks to a historically high iron ore price, with Fortescue Metals up 4.8% to A$22.70 and Champion Iron up 3.1% to A$7.01. BHP gained 0.6% to A$47.84 and Rio Tinto added 1.1% to A$122.51.

Health insurer nib holdings gained 10.2% after reinstating guidance with a strong outlook.

Sigma Healthcare (SIG) finished down 1.45% after the resignation of its CEO and Managing Director Mark Hooper. Mr Hooper is expected to remain in the role until October 2021.

A2 Milk (A2M) finished down another 3.12%, hitting a fresh three-year low in the process. The infant formula maker fell by 10% last week.

CURRENCY NEWS: The Australian dollar changed hands at $0.7772, against an earlier low of $0.7732.

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