Australian Market Significantly Lower

RTTNews | 987 days ago
Australian Market Significantly Lower

(RTTNews) - The Australian stock market is significantly lower on Friday, giving up the gains in the previous session, with the benchmark S&P/ASX 200 falling below the 6,800 level, following the broadly negative cues from Wall Street overnight, dragged by weakness in mining and energy stocks amid tumbling commodity prices.

The benchmark S&P/ASX 200 Index is losing 56.80 points or 0.83 percent to 6,786.10, after hitting a low of 6,781.50 earlier. The broader All Ordinaries Index is down 58.20 points or 0.82 percent to 7,024.30. Australian markets ended modestly higher on Thursday.

Among major miners, OZ Minerals and Rio Tinto are slipping almost 1 percent each, while BHP Group is losing 1.5 percent, Fortescue Metals is down more than 1 percent and Mineral Resources is sliding almost 2 percent.

Oil stocks are weak. Origin Energy and Woodside Energy are losing almost 2 percent each, while Beach energy and Santos are slipping more than 2 percent each.

Among tech stocks, Afterpay owner Block is edging down 0.1 percent, Xero is down almost 1 percent and WiseTech Global is declining more than 3 percent, while Appen and Zip are losing more than 2 percent each. Among the big four banks, National Australia Bank is gaining almost 2 percent, Westpac is adding almost 1 percent and ANZ Banking is edging up 0.1 percent, while Commonwealth Bank is flat.

Gold miners are weak. Newcrest Mining is losing more than 2 percent, Resolute Mining is plunging almost 7 percent and Gold Road Resources is down almost 5 percent, while Northern Star Resources and Evolution Mining are sliding 3.5 percent each.

In other news, shares in Atlas Arteria are plummeting almost 14 percent after the toll road operator announced it had bought a 66.6 percent stake in a toll way in Chicago.

In the currency market, the Aussie dollar is trading at $0.670 on Friday.

On Wall Street, stocks fluctuated over the course of the session on Thursday before coming under considerable pressure in the latter part of the session. The Dow and the S&P 500 more than offset Wednesday's gains, falling to their lowest closing levels in two months.

The major averages climbed off their worst lows of the session going into the close but remained firmly negative. The Dow slid 173.27 points or 0.6 percent to 30,961.82, the Nasdaq tumbled 167.32 points or 1.4 percent to 11,552.36 and the S&P 500 slumped 44.66 points or 1.1 percent to 3,901.36.

The major European markets also moved mostly lower on the day. While the U.K.'s FTSE 100 Index bucked the downtrend and inched up by 0.1 percent, the German DAX Index fell by 0.6 percent and the French CAC 40 Index slumped by 1.0 percent.

Crude oil futures fell sharply on Thursday amid concerns about outlook for energy demand, and on reports about a tentative deal between rail road union and its workers to avert a potentially disastrous rail strike in the U.S. West Texas Intermediate Crude oil futures for October ended lower by $3.38 or about 3.8% at $85.10 a barrel, the lowest settlement since September 8.

read more
European Shares Rise On ECB Rate Cut Hopes

European Shares Rise On ECB Rate Cut Hopes

European stocks traded higher on Friday despite the latest U.S. court rulings on President Trump's "Liberation Day" tariffs adding another layer of uncertainty.
RTTNews | 45 minutes ago
Asian Shares Decline Amid Tariff Uncertainty

Asian Shares Decline Amid Tariff Uncertainty

Asian stocks ended mostly lower on Friday due to uncertainty surrounding a court battle about U.S. President Donald Trump's tariffs and rising concerns about U.S. economic stability.
RTTNews | 1h 11min ago
European Economic News Preview: Germany Inflation, Retail Sales Data Due

European Economic News Preview: Germany Inflation, Retail Sales Data Due

Inflation and retail sales from Germany and private sector credit from the euro area are the top economic news due on Friday. At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales figures for April. Sales are forecast to grow 0.3 percent month-on-month, in contrast to the 0.2 percent fall in March.
RTTNews | 3h 47min ago
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Friday.
RTTNews | 4h 32min ago
Australian Market Swings To Modest Gains In Mid-market

Australian Market Swings To Modest Gains In Mid-market

The Australian stock market is swinging to modest gains in mid-market moves on Friday after opening in the red, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,400 level, with gains in gold miners and financial stocks partially offset by weakness in iron ore miners and technology stocks.
RTTNews | 6h 14min ago
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Friday, despite the broadly positive cues from Wall Street overnight, as lingering uncertainty about the ongoing trade war continued to weight on the markets after an appeals court temporarily paused the lower court's ruling to block US President Donald Trump's reciprocal tariffs on imports from U.S. trade partners.
RTTNews | 6h 45min ago