Australian Shares Extend Losses, Down 0.3%

  • Stock Market News
Australian Shares Extend Losses, Down 0.3%

By Oliver Gray - The S&P/ASX 200 lost 22.7 points or 0.3% to 6,677.5 after the first hour of Thursday’s trade, extending losses of 0.9% in the previous session as investors remained cautious following a mixed lead from U.S. equities overnight.

ASX 200 Futures were pointing 0.2% lower.

Among stocks, losses were led by the Energy sector amid weaker crude oil prices. Woodside Energy Ltd (ASX: WDS ) dipped 2.1%, Santos Ltd (ASX: STO ) lost 0.4%, Beach Energy Ltd (ASX: BPT ) fell 2.9% and Viva Energy Group Ltd (ASX: VEA ) lost 1.4%.

Utilities were down 0.2% with Mercury NZ Ltd (ASX: MCY ) down 1.7%, Origin Energy Ltd (ASX: ORG ) was down 1%, APA Group (ASX: APA ) fell 0.5% and Genesis Energy Ltd (ASX: GNE ) lost 2.4%.

Financials fell 0.9% collectively, with Macquarie Group Ltd (ASX: MQG ) down 0.9%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) falling 0.8%, Commonwealth Bank Of Australia (ASX: CBA ) dropping 0.9%, National Australia Bank Ltd (ASX: NAB ) falling 0.8%, Westpac Banking Corp (ASX: WBC ) dipping 0.8%.

Materials moved 0.8% lower, with Rio Tinto Ltd (ASX: RIO ) down 1%, BHP Billiton Ltd (ASX: BHP ) falling 1.5%, Fortescue Metals Group Ltd (ASX: FMG ) down 1.5% and Champion Iron Ltd (ASX: CIA ) down 1.6%.

real estate companies bucked the trend, adding 0.8% overall as Goodman Group (ASX: GMG ) lifted 1.8%, Charter Hall Group (ASX: CHC ) lost 0.7%, Mirvac Group (ASX: MGR ) gained 0.5% and Scentre Group Ltd (ASX: SCG ) fell 1.1%.

On the bond markets, Australia 10-Year yields were at 3.621% United States 10-Year yields fell to 3.083%.

In New Zealand, the NZX 50 remained little changed at 10,960.4.

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