ASX 200 Adds 0.4% at the Close while Tech Sinks

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ASX 200 Adds 0.4% at the Close while Tech Sinks
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 added 26.4 points or 0.4% to 7,155.2 during Wednesday’s trade, as global growth fears saw investors rotate into gold miners while major technology companies continued to suffer.

Among stocks, Materials were the most improved, up 0.6% as St Barbara Ltd (ASX: SBM ) lifted 2.9%, Gold Road Resources Ltd (ASX: GOR ) added 2.7%, Northern Star Resources Ltd (ASX: NST ) lifted 2.5% and Perseus Mining Ltd (ASX: PRU ) gained 4.5%. Meantime, Rio Tinto Ltd (ASX: RIO ) added 1.4%, Fortescue Metals Group Ltd (ASX: FMG ) slipped 0.4% and BHP Billiton Ltd (ASX: BHP ) dipped 10% as the company traded ex-dividend.

Consumer Staples lifted 1.5% as Woolworths Ltd (ASX: WOW ) added 1.9%, Coles Group Ltd (ASX: COL ) gained 2%, Metcash Ltd (ASX: MTS ) added 2.1% and Inghams Group Ltd (ASX: ING ) added 2.2%.

Financials finished 0.8% higher with Australia and New Zealand Banking Group Ltd (ASX: ANZ ) up 1%, National Australia Bank Ltd (ASX: NAB ) lifted 1.8% Westpac Banking Corp (ASX: WBC ) added 1.4% and Commonwealth Bank Of Australia (ASX: CBA ) gained 1%.

Costa Group Holdings Ltd (ASX: CGC ) also surged 8.6% issuing a trading update and forecasting a lift in earnings.

Information Technology lost 3% collectively with Block Inc (ASX: SQ2 ) down 4.5%, Appen Ltd (ASX: APX ) dipping 4.6%, Megaport Ltd (ASX: MP1 ) down 5.4%, Novonix Ltd (ASX: NVX ) falling 3.8% and Brainchip Holdings Ltd (ASX: BRN ) down 8.7%.

On the bond markets, Australia 10-Year rates were at 3.235% while United States 10-Year yields were at 2.754%.

In New Zealand, the NZX 50 added 0.7% to 11,173.

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