Australian Shares Retreat 1.1% as Info Tech Suffers

  • Investing.com
  • Stock Market News
Australian Shares Retreat 1.1% as Info Tech Suffers

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 1.1% to 7,158.4 after the first hour of Thursday’s trade, reversing gains of 0.3% in the previous session as investors tracked a lower close on Wall Street overnight as persistently high inflation pressures soured risk sentiment.

ASX 200 Futures were pointing 0.3% lower.

Among stocks, Information Technology fell 2.4% with Block Inc (ASX: SQ2 ) fell 6.2%, Appen Ltd (ASX: APX ) lost 0.6%, Megaport Ltd (ASX: MP1 ) fell 3.3% and Xero Ltd (ASX: XRO ) dipped 2.7%.

Energy bucked the trend, adding 2.6% as Woodside Energy Ltd (ASX: WDS ) added 4.9% while Santos Ltd (ASX: STO ) and South32 Ltd (ASX: S32 ) retreated 1.7% and 0.8% respectively.

Financials fell 1.4% as Macquarie Group Ltd (ASX: MQG ) lost 2.7%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) fell 1%, National Australia Bank Ltd (ASX: NAB ) dipped 0.9%, Westpac Banking Corp (ASX: WBC ) dropped 0.8% and Commonwealth Bank Of Australia (ASX: CBA ) eased 1.5%.

On the bond markets, Australia 10-Year yields were at 3.486% while United States 10-Year rates were at 2.913%.

In New Zealand, the NZX 50 fell 0.6% to 11,303.3.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search