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MarketScreener Homepage  >  Indexes  >  Australian Stock Exchange  >  S&P/ASX 200    XJO   XC0006013624

S&P/ASX 200

SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

Australia shares end lower on financials and consumers; NZ recovers

09/28/2020 | 03:10am EST

* Big Four Banks fall between 0.8% and 1.3%

* ASX-listed shares of a2 Milk drop ~11%

* NZ bourse recovers on energy sector gains

Sept 28 (Reuters) - Australian shares closed lower in a low-volume session on Monday, with financials and consumers stocks weighing the most.

The S&P/ASX 200 index swung between gains and losses throughout the session before settling 0.2% lower at 5,952.3. More than 571.9 million shares changed hands, compared with the 30-day average of 803.6 million shares.

Heavyweight financial stocks were among the biggest drags on the index, losing 0.6% after a 3.7% jump in the previous session.

All "Big Four" banks closed in negative territory, with top lenders Commonwealth Bank of Australia and Westpac Banking Corp losing 1% and 1.1%, respectively.

"Banks are seeing profit-taking after a big move last week," said Henry Jennings, a senior analyst and portfolio manager at Marcustoday Financial Newsletter.

Among consumer firms, a2 Milk's Australian shares were the biggest losers, declining 10.7% after the New Zealand-based dairy firm forecast lower first-half revenue on disruptions to Chinese sales.

"The moves are very stock specific and waiting for a catalyst with not a lot of conviction either way," Jennings added.

Miners were the biggest drags, with global iron ore mining giants BHP Group and Rio Tinto declining 1.3% and 1.5%, respectively.

Meanwhile, the coronavirus hotspot Victoria state recorded a single-digit rise in new cases for the first time in three months and lifted some of its tough restrictions, raising hopes for a near-normal conditions by the year end.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index ended marginally higher at 11,802.29, recovering from a near 2% drop earlier in the session.

Losses in a2 Milk shares were offset by gains in electricity generators Meridian Energy and Mercury NZ , which rose 6.6% and 7.4% respectively after Prime Minister Jacinda Ardern announced negotiations with Rio Tinto to extend operations of its local aluminium smelters. (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED -2.29% 70.84 End-of-day quote.-1.61%
BHP GROUP 1.65% 46.82 End-of-day quote.10.35%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.12% 16.24 End-of-day quote.2.66%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.00% 13.75 End-of-day quote.-0.29%
COMMONWEALTH BANK OF AUSTRALIA -1.10% 85.38 End-of-day quote.3.98%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.00% 45.7 End-of-day quote.3.39%
MERCURY NZ LIMITED -2.54% 6.92 End-of-day quote.5.97%
MERIDIAN ENERGY LIMITED -0.88% 7.87 End-of-day quote.6.06%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.15% 114.3 End-of-day quote.1.09%
RIO TINTO GROUP 0.72% 120.52 End-of-day quote.5.88%
RIO TINTO PLC -3.03% 5946 Delayed Quote.8.70%
S&P/ASX 200 0.00% 6715.4 Real-time Quote.1.95%
THE A2 MILK COMPANY LIMITED -1.70% 11.01 End-of-day quote.-8.78%
WESTPAC BANKING CORPORATION 1.52% 21.35 End-of-day quote.10.22%
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Chart S&P/ASX 200
Duration : Period :
S&P/ASX 200 Technical Analysis Chart | XJO | XC0006013624 | MarketScreener
Technical analysis trends S&P/ASX 200
Short TermMid-TermLong Term
Top / Flop S&P/ASX 200
AFTERPAY LIMITED 133.15 End-of-day quote.10.04%
SCENTRE GROUP 2.92 End-of-day quote.5.04%
VICINITY CENTRES 1.59 End-of-day quote.4.95%
PRO MEDICUS LIMITED 38.19 End-of-day quote.4.54%
HUB24 LIMITED 23.45 End-of-day quote.4.18%
NEXTDC LIMITED 11.48 End-of-day quote.-3.20%
MAGELLAN FINANCIAL GROUP LIMITED 47.57 End-of-day quote.-3.25%
ARISTOCRAT LEISURE LIMITED 29.9 End-of-day quote.-3.92%
RESMED INC. 26.78 End-of-day quote.-4.66%
RESOLUTE MINING LIMITED 0.705 End-of-day quote.-7.84%
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