ASX 200 Gains 0.3%, Origin Tanks 13.7% After Slashing Guidance

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ASX 200 Gains 0.3%, Origin Tanks 13.7% After Slashing Guidance
Credit: © Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 22.80 points or 0.32% to 7,234 during Wednesday’s session, partially retracing losses of 1% in the previous session as gains among Telecommunication , Financials and Industrials outweighed losses in Utilities and Information Technology .

Among stocks, Rea Group Ltd (ASX: REA ) added 0.7%, Domain Holdings Australia Ltd (ASX: DHG ) gained 1.6% and Telstra Corporation Ltd. (ASX: TLS ) lifted 3.1%.

Major bankers lifted with Macquarie Group Ltd (ASX: MQG ) added 1.3%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) up 1.1%, National Australia Bank Ltd (ASX: NAB ) lifting 0.9%, Westpac Banking Corp (ASX: WBC ) up 1% and Commonwealth Bank Of Australia (ASX: CBA ) gaining 2.3%.

Industrials gained 1.2% collectively as Auckland International Airport Ltd (ASX: AIA ) added 2.7%, Reece Ltd (ASX: REH ) lifted 0.8%, Transurban Group (ASX: TCL ) added 2.4% and Brambles Ltd (ASX: BXB ) gained 0.8%.

Utilities dipped 5.3% overall, as Origin Energy Ltd (ASX: ORG ) tanked 13.7% after the company withdrew earnings guidance amid soaring coal prices. Meridian Energy Ltd (ASX: MEZ ) dipped 2.6%, Genesis Energy Ltd (ASX: GNE ) fell 1.2% and AGL Energy Ltd (ASX: AGL ) eased 0.5%.

Information Technology also eased 1.5% as Block Inc (ASX: SQ2 ) fell 4.3%, Appen Ltd (ASX: APX ) lost 2.2%, Megaport Ltd (ASX: MP1 ) fell 4.9%, Novonix Ltd (ASX: NVX ) shed 12.7% and Xero Ltd (ASX: XRO ) dipped 2.2%.

On the bond markets, Australia 10-Year yields were at 3.414% while United States 10-Year rates were at 2.859%.

In New Zealand, the NZX 50 added 0.6% to 11,373.2.

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