By Oliver Gray
Investing.com - The S&P/ASX 200 dipped 32.5 points or 0.5% to 7206.3 during Monday’s trade, easing from gains of 0.8% in the previous week as Information Technology and Telecommunication companies led the declines.
Among stocks, Block Inc (ASX: SQ2 ) fell 3.2%, Appen Ltd (ASX: APX ) lost 3.3%, Megaport Ltd (ASX: MP1 ) fell 3.5%, Codan Ltd (ASX: CDA ) fell 3.6% and Xero Ltd (ASX: XRO ) eased 1.5% while Novonix Ltd (ASX: NVX ) and Brainchip Holdings Ltd (ASX: BRN ) dipped 3.8% apiece.
Financials also eased 0.6% collectively with Macquarie Group Ltd (ASX: MQG ) down 0.6%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) falling 0.8% National Australia Bank Ltd (ASX: NAB ) down 0.5%, Westpac Banking Corp (ASX: WBC ) falling 0.3% and Commonwealth Bank Of Australia (ASX: CBA ) easing 0.5%.
Magellan Financial Group Ltd (ASX: MFG ) also dived 13.9% after revealing its funds under management fell by $3.6 billion in May.
In New Zealand, the NZX 50 added 0.6% to 11,417.
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