Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

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

S&P/ASX 200

SummaryMost relevantAll NewsNews of the index componentsMarketScreener Strategies

Australian shares close lower as spiralling pandemic stokes recovery fears

10/29/2020 | 12:57am EST

* Australian benchmark sees lowest close in over three weeks

* Orocobre tumbles on 24% fall in quarterly production

* Tech stocks track Wall Street counterparts lower

Oct 29 (Reuters) - Australian shares on Thursday closed at their lowest level in more than three weeks as surging cases of COVID-19 around the world stoked fears of a difficult global economic recovery.

The S&P/ASX 200 index ended 1.6% lower at 5,960.30, its lowest since Oct. 5, with gold and energy stocks leading the declines.

Twelve U.S. states set records for hospitalised COVID-19 patients, while Germany and France announced plans to shut large swathes of public life for a month as the pandemic spread across Europe.

"At the moment, it's pretty clear that Europe is going into lockdown. So, there is definitely a downgrade cycle coming out of Europe... and post-election, I assume parts of the United States will be going into restrictions as well," said Mathan Somasundaram, CEO of Deep Data Analytics.

Denting sentiment further were jitters over U.S. election's outcome and fading hopes of a stimulus deal before the polls.

"The market keeps being negative till we see some clarity," Somasundaram said.

The Australian energy index declined 2.9% on weaker oil prices. Santos fell 5%, while Woodside Petroleum lost 2%.

Gold stocks shed 4.2%, with Westgold Resources losing 8.9% and OceanaGold Corp sliding 5.5%.

The broader mining index fell 2.2%. BHP Group and Rio Tinto declined 2.2% and 1.1% each.

Orocobre Ltd tumbled 3.8% after the lithium producer flagged a 24% fall in quarterly production from its flagship Olaroz mine in Argentina.

Australian tech firms fell 2%, tracking tech stocks on Wall Street overnight. Afterpay fell 3.3%, while WiseTech Global lost 1.7%.

The heavyweight financial index closed 1.5% lower, with all the "Big Four" banks ending in the negative territory.

New Zealand's benchmark S&P/NZX 50 index closed 0.5% lower at 12,201.80.

Top losers were Oceania Healthcare, losing 3.6%, and Air New Zealand that fell 3.4%. (Reporting by Nikhil Subba in Bengaluru; editing by Uttaresh.V)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 10.04% 133.15 End-of-day quote.12.84%
AIR NEW ZEALAND LIMITED 1.76% 1.735 End-of-day quote.-3.61%
BHP GROUP 1.65% 46.82 End-of-day quote.10.35%
OCEANAGOLD CORPORATION 0.00% 2.36 End-of-day quote.-8.53%
OCEANIA HEALTHCARE LIMITED -2.07% 1.42 End-of-day quote.-2.07%
OROCOBRE LIMITED -0.38% 5.28 End-of-day quote.18.12%
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%
SANTOS LIMITED -1.07% 7.42 End-of-day quote.18.34%
WESTGOLD RESOURCES LIMITED -1.23% 2.4 End-of-day quote.-9.09%
WISETECH GLOBAL LIMITED -2.53% 27.73 End-of-day quote.-9.82%
WOODSIDE PETROLEUM LTD 0.56% 26.76 End-of-day quote.17.68%
All news about S&P/ASX 200
01/15Wall Street Leans Back Pre-Bell; Futures Red, Europe Down, Asia Lower
01/15S&P/ASX 200 : Australia's Sets New Housing Loan Record in November 2020, Boosted..
01/15Australia shares pare gains as health stocks offset U.S. stimulus boost
01/15Australian Shares Gain After Biden's Nearly $2 Trillion Stimulus Plan; Housin..
01/15S&P/ASX 200 : Australian Shares Rise on Biden's Nearly $2 Trillion Stimulus Plan
01/15Asia shares edge higher as Biden unveils $1.9 trln U.S. stimulus plan
01/15S&P/ASX 200 : Australia's Housing Loan Commitments Hit Record High in November 2..
01/14Wall Street Mixed Pre-Bell; Nasdaq Futures Slipping, Europe Up, Asia Uneven
01/14Australian Shares Post Moderate Gains as European Central Bank Maintains Upbe..
01/14S&P/ASX 200 : Australian Shares Close Moderately Higher on Upbeat Eurozone Econo..
More news
News of the index components S&P/ASX 200
01/16EXCLUSIVE : Canada's Couche-Tard drops $20 billion Carrefour takeover plan after..
01/15Outgoing Trump admin OKs land swap for Rio Tinto's Arizona copper mine
01/15SARACEN MINERAL : shareholders vote overwhelmingly in favour of merger with Nort..
01/15JAMES HARDIE INDUSTRIES : Announces Debt Reduction
01/15RESOLUTE MINING : Falls 8% as 2020 Gold Production Misses Guidance
01/15JAMES HARDIE INDUSTRIES : NEWS.2021.James Hardie Announces Debt Reduction
01/15RESOLUTE MINING : Posts Fourth Quarter 2020 Production Figures, Provides 2021 Gu..
More news
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%
Heatmap :