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

S&P/ASX 200

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Australian shares snap five-day rally as vaccine optimism cools

11/12/2020 | 01:08am EST

* Woodside Petroleum records worst session in a week

* "Big Four" banks lose between 1.1% and 2.4%

* Tech stocks up 1.1%; Xero hits record high

Nov 12 (Reuters) - Australian shares closed lower on Thursday for the first time in six sessions, dragged down by heavyweight financial and energy stocks, as the initial optimism about progress in the development of a coronavirus vaccine faded.

The S&P/ASX 200 index closed 0.5% lower at 6418.2.

"Investors are re-assessing the near-term implications of a coronavirus vaccine", Margaret Yang, a strategist from DailyFX wrote in note.

"The road ahead might not be a smooth sailing (one) as challenges remain on the time horizon, manufacturing capacity, delivery and storage of the vaccine."

Financials declined 1.5%, with all the "Big Four" banks closing lower.

The energy index shed about 1%, even as crude prices firmed on hopes that the world's major producers will halt supply increases.

Woodside Petroleum dropped after it shelved talks to sell stakes in a project to Chinese firms on the state of the Sino-Australian diplomatic ties, which had worsened after Canberra called for an inquiry into the source of the coronavirus.

Miners, heavily reliant on exports to China, also fell 1.3%. Sector heavyweights BHP and Rio Tinto , lost 1.1% and 0.7% respectively.

But, tech stocks gained 1.1%, bouncing back from steep losses this week when encouraging vaccine data prompted a rotation away from the sector and lifted demand for battered energy, airlines and travel stocks.

Accounting software maker Xero added as much as 6.7% to hit a record high after reporting a jump in its half year profit. It closed 0.6% higher.

In New Zealand, the benchmark S&P/NZX 50 index ended flat at 12670.62.

Film-related software developer Vista Group, dropping about 4%, was the biggest percentage loser on the benchmark index while exchange operator NZX advanced more than 5%. (Reporting by Deepali Saxena; editing by Uttaresh.V)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
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%
NATIONAL AUSTRALIA BANK LIMITED 1.51% 24.14 End-of-day quote.6.81%
NZX LIMITED -1.40% 2.12 End-of-day quote.8.16%
RIO TINTO GROUP 0.72% 120.52 End-of-day quote.5.88%
RIO TINTO PLC -0.51% 5916 Delayed Quote.8.70%
S&P/ASX 200 -0.78% 6663 Real-time Quote.1.95%
VISTA GROUP INTERNATIONAL LIMITED -0.65% 1.53 End-of-day quote.-8.93%
WESTPAC BANKING CORPORATION 1.52% 21.35 End-of-day quote.10.22%
WOODSIDE PETROLEUM LTD 0.56% 26.76 End-of-day quote.17.68%
XERO LIMITED -1.53% 133.78 End-of-day quote.-8.88%
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Chart S&P/ASX 200
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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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