Business Standard

Wednesday, December 25, 2024 | 10:10 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Australia Market falls 1.4%

Image

Capital Market
Australia stock market finished session lower on Monday, 10 October 2022, on following negative lead from Wall Street last Friday after better-than-expected U.S. jobs data released on Friday cemented bets of more large Federal Reserve rate hikes.

At closing bell, the benchmark S&P/ASX200 index was down 95.02 points, or 1.4%, to 6,667.75. The broader All Ordinaries index declined 104.11 points, or 1.49%, to 6,872.

All 11 sectors ended lower along with the S&P/ASX 200 Index, with shares in utilities, information technologies, healthcare, and financials being notable losers.

The top performing stocks in S&P/ASX200 index were SIMS and FORTESCUE METAL, up 2.18% and 1.8%, respectively. The bottom performing stocks in S&P/ASX200 index were JOHNS LYNG GROUP and CAPRICORN METALS, down 14.8% and 10.1% respectively.

 

Financials were lower, with the country's Big Four banks retreated between 1.3 and 1.7%.

Gold stocks tumbled as bullion prices fell to a one-week low. Newcrest Mining and Northern Star Resources lost 4% and 4.4%, respectively.

Energy stocks declined, as investors booked profits after a report on slowing economic activity in China stoked concerns about global fuel oil demand. Woodside Energy and Santos fell 0.7% and 1%, respectively.

Shares of materials and resources closed down even after iron ore prices hit a two-month high on shrinking portside inventory in top steel producer. Aurelia Metals and Capricorn Metals were the top laggards, shedding 32.6% and 10.1%, respectively.

CURRENCY NEWS: The Australian dollar weakened sharply in Asia's trade, falling as low as $0.6321, to levels not seen since April 2020.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 10 2022 | 3:25 PM IST

Explore News