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

S&P/ASX 200

(XJO)
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SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

Australia shares rise as financials cap losses in miners

12/03/2020 | 07:12pm EST

* Benchmark set for fifth straight weekly gain

* Miners lose steam, fall up to 0.7%

* NZ's Fonterra narrows 2020/21 farmgate milk price forecast

Dec 4 (Reuters) - Australian shares gained modestly on Friday as financials kept the benchmark afloat, offsetting losses in miners following a record rally in the previous session on the back of rising iron ore prices and a lowered forecast from Brazilian miner Vale.

The S&P/ASX 200 index rose 0.2% to 6,626.0 by 2345 GMT, and was on track for its fifth consecutive weekly gain, likely adding 0.4%.

Financials were the biggest boosts to the index, jumping 0.7%, with all "Big Four" banks trading in the black. Top lender Commonwealth Bank of Australia rose 0.8%, while conglomerate Macquarie Group advanced 2.2%, extending gains from the previous session.

However, financials were set to snap a four-week winning streak, losing about 0.5%.

Top drags on the index, miners fell up to 0.7%, losing momentum after three straight gain sessions on the back of a rally in iron ore prices and a downgraded forecast by Brazil's Vale SA.

BHP Group slipped 0.5% after a nearly 5% jump in the previous session, while Rio Tinto fell up to 0.8% after closing at a 12-year high. Fortescue Metals Group dropped from its record level, losing as much as 0.7%.

The healthcare sector hit its lowest in a month, with ASX-listed Resmed Inc and Fisher & Paykel Healthcare losing up to 1.6% and 2.3%, respectively.

Meanwhile, a media report said Pfizer, with which Australia has a COVID-19 vaccine supply agreement, had decided to slash the 2020 production target for its COVID-19 vaccine owing to supply chain challenges.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index was trading little changed, after erasing gains of up to 0.5% earlier in the session.

Dairy exporter Fonterra inched higher after it lifted the bottom end of its farmgate milk price for the 2020/21 season on strong demand for its product in China, and across Asia. (Reporting by Sameer Manekar in Bengaluru; Editing by Tom Brown)


© 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%
COMMONWEALTH BANK OF AUSTRALIA -1.10% 85.38 End-of-day quote.3.98%
FONTERRA CO-OPERATIVE GROUP LIMITED 0.23% 4.4 End-of-day quote.0.23%
FORTESCUE METALS GROUP LIMITED 1.70% 25.18 End-of-day quote.7.47%
MACQUARIE GROUP LIMITED -0.70% 137.33 End-of-day quote.-0.83%
PFIZER INC. -0.14% 36.7 Delayed Quote.-0.30%
RIO TINTO GROUP 0.72% 120.52 End-of-day quote.5.88%
S&P/ASX 200 0.00% 6715.4 Real-time Quote.1.95%
VALE S.A. 1.64% 97.8 End-of-day quote.11.84%
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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
TrendsNeutralBullishNeutral
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%
Heatmap :