Australian Market Significantly Lower

RTTNews | vor 732 Tagen
Australian Market Significantly Lower

(RTTNews) - The Australian stock market is significantly lower on Wednesday, extending the losses in the previous session, with the benchmark S&P/ASX 200 falling below the 7,200 level, following the mixed cues from Wall Street overnight, with weakness in energy and mining stocks amid tumbling commodity prices. The benchmark S&P/ASX 200 Index is losing 59.20 points or 0.82 percent to 7,150.10, after hitting a low of 7,149.20 earlier. The broader All Ordinaries Index is down 59.90 points or 0.81 percent to 7,327.40. Australian stocks ended slightly lower on Tuesday.

Among major miners, Fortescue Metals is losing almost 2 percent and BHP Group is declining 1.5 percent, while Mineral Resources and Rio Tinto are down more than 1 percent each. Oil stocks are lower. Beach energy is declining more than 3 percent, Woodside Energy is losing more than 2 percent and Santos is down 1.5 percent, while Origin Energy is flat.

In the tech space, Afterpay owner Block and Zip are declining more than 1 percent each, while WiseTech Global and Xero are adding almost 1 percent each. Appen is soaring more than 9 percent.

Among the big four banks, Westpac, ANZ Banking and National Australia Bank are edging down 0.1 to 0.5 percent each, while Commonwealth Bank is losing almost 1 percent.

Among gold miners, Gold Road Resources is losing almost 2 percent and Evolution Mining is down almost 1 percent, while Northern Star Resources and Newcrest Mining are edging down 0.2 to 0.5 percent each. Resolute Mining is flat.

In the currency market, the Aussie dollar is trading at $0.651 on Wednesday.

On Wall Street, stocks ended mixed on Tuesday as the mood turned cautious around mid-afternoon with investors awaiting the passage of the debt ceiling deal. Stocks, particularly from the technology section, started off on a firm note, although the broad market, however, was somewhat sluggish.

The major averages ended mixed. The Dow ended with a modest loss of 50.56 points or 0.15 percent at 33,042.78 and the S&P 500 settled at 4,205.52, little changed from the previous close, while the Nasdaq ended up 41.74 points or 0.32 percent at 13,017.43.

The major European markets ended notably lower as investors stayed cautious, awaiting the passage of the U.S. debt ceiling deal. The U.K.'s FTSE 100 dropped 1.38 percent, Germany's DAX ended lower by 0.27 percent, and France's CAC 40 fell 1.29 percent.

Crude oil prices fell sharply on Tuesday, weighed down by doubts about China's economic recovery and uncertainty over whether the Congress will pass the debt deal this week. West Texas Intermediate Crude oil futures for July ended down $3.21 or 4.4 percent at $69.46 a barrel.

read more
TSX Settles Lower As Trade Tensions Resurface

TSX Settles Lower As Trade Tensions Resurface

Despite hitting record highs earlier in the week, the Canadian market ended weak for a second straight day as trade tensions weighed on sentiment, prompting investors to tread cautiously on Friday.
RTTNews | vor 1 Tagen
Crude Oil Prices Slip On Friday

Crude Oil Prices Slip On Friday

Crude suffered a weekly loss of more than 1 percent due to uncertainty over U.S. President Donald Trump's tariffs and their likely impact on global growth and fuel demand.
RTTNews | vor 1 Tagen
Pound Drops As Trade Tensions Renew

Pound Drops As Trade Tensions Renew

The pound fell against its major counterparts in the New York session on Friday, as trade tensions escalated after the U.S. President accused China of violating trade agreement reached earlier this month.
RTTNews | vor 1 Tagen
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

Save for a few minutes at the start when it stayed a bit weak, the Switzerland market remained positive on Friday, and despite coming off the day's high hit around noon, ended the session modestly higher.
RTTNews | vor 1 Tagen
Major European Markets Close Slightly Higher

Major European Markets Close Slightly Higher

Despite uncertainty surrounding Trump administration's tariff plans, The major European markets mostly closed higher on Friday. Trade tensions escalated after the U.S. President accused China of violating trade agreement reached earlier this month, but investors picked up stocks amid expectations of an interest rate cut by the European Central Bank.
RTTNews | vor 1 Tagen
U.S. Stocks Broadly Lower In Cautious Trade

U.S. Stocks Broadly Lower In Cautious Trade

U.S. stocks are turning in a weak performance on Friday amid renewed concerns over trade tensions, and a batch of mixed economic data. The major averages all are down in negative territory, with the tech-laden Nasdaq underperforming.
RTTNews | vor 2 Tagen