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

S&P/ASX 200

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Australia shares near two-week low as energy, financial stocks weigh

10/21/2020 | 08:57pm EST

* Weak oil prices hammer energy index

* Woodside, Santos report lower qtrly revenue

* Financial index posts worst day since Sept. 30

Oct 22 (Reuters) - Australian shares slumped to a near two-week low on Thursday, weighed by energy and financial stocks, after an impasse in U.S. stimulus talks tempered market sentiment globally.

Broad-based losses pushed the S&P/ASX 200 index down 1.5% or 90.10 points to 6,101.70 by 2348 GMT. The benchmark gained 0.1% on Wednesday.

The energy index tumbled 2.5% to lead losses, as oil prices fell 3% overnight after U.S. inventory figures showed demand for refined products lagged as global coronavirus cases spiked.

Sector heavyweights Santos Ltd and Woodside Petroleum fell about 2% each as the oil and gas producers reported lower quarterly sales.

Wall Street fell overnight with investors fretting if the talks between lawmakers would result in a much-needed coronavirus relief bill as House Speaker Nancy Pelosi expressed doubts over its passage before the presidential elections.

Heavyweight Australian financial stocks slid 1.6% to mark its worst day since Sept. 30, pressured by a 5% drop in wealth manager AMP Ltd and losses in the "Big Four" banks.

Australia and New Zealand Banking Group, National Australia Bank Commonwealth Bank of Australia and Westpac Banking Corp - lost between 1.1% to 2%.

AMP said its Australian arm saw net outflows of A$1.95 billion ($1.38 billion) over three months ended Sept. 30 and flagged further losses of A$450 million in the coming quarter.

The healthcare index fell 0.5%, with industry behemoth CSL Ltd falling 1.8%.

In a bright spot, medical centre operator Healius Ltd rose 5.8% to top the ASX200 after giving a positive first-quarter update.

In New Zealand, the benchmark S&P/NZX 50 index fell 0.4% to 12,378.2.

Telecom infrastructure company Chorus Ltd and Skycity Entertainment Group Ltd fell 2.4% and 2.6%, respectively, and were among top laggards.

($1 = 1.4081 Australian dollars) (Reporting by Anushka Trivedi in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.00% 1.71 End-of-day quote.-10.70%
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -0.27% 22.28 End-of-day quote.-9.54%
CHORUS LIMITED -1.77% 8.33 End-of-day quote.34.79%
COMMONWEALTH BANK OF AUSTRALIA -0.50% 79.6 End-of-day quote.-0.38%
CSL LIMITED 1.00% 316.68 End-of-day quote.14.84%
HEALIUS LIMITED 0.85% 3.56 End-of-day quote.28.99%
LONDON BRENT OIL 0.61% 46.52 Delayed Quote.-31.62%
NATIONAL AUSTRALIA BANK LIMITED 0.04% 22.74 End-of-day quote.-7.67%
S&P/ASX 200 1.26% 6644.1 Real-time Quote.-1.83%
SANTOS LIMITED 3.38% 6.12 End-of-day quote.-25.18%
SKYCITY ENTERTAINMENT GROUP LIMITED -1.92% 3.06 End-of-day quote.-22.92%
WESTPAC BANKING CORPORATION 0.10% 19.93 End-of-day quote.-17.75%
WOODSIDE PETROLEUM LTD 1.57% 21.99 End-of-day quote.-36.04%
WTI 0.02% 43.625 Delayed Quote.-30.81%
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