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

S&P/ASX 200

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Energy stocks, Mesoblast's near 45% drop weigh on Australian shares

10/01/2020 | 09:45pm EST

* Biotech co Mesoblast top drag on the benchmark

* Energy sub-index hits its lowest since April 22

* Tech index is the sole gainer among indexes, up 2.2%

Oct 2 (Reuters) - Australian shares fell on Friday, dragged by losses in energy stocks after an overnight tumble in oil prices, while a near 45% plunge in biotech firm Mesoblast Ltd also weighed on the benchmark.

The S&P/ASX 200 index fell up to 0.8% to 5,824.1 in early trade and was on track for a weekly drop of 2.5%. The benchmark had closed 1% higher on Thursday.

Mesoblast hit its lowest since late-April and was the top percentage loser on the benchmark after the U.S. Food and Drug Administration demanded more proof that its flagship drug worked.

Meanwhile, an overnight plunge in oil prices knocked the energy sub-index down 2.5% to its lowest since April 22.

Shares of Beach Energy and Oil Search were the top percentage losers, both losing around 2%

Mining stocks dropped as much as 2.2%, hitting their lowest in nearly three months. Heavyweights BHP Group and Rio Tinto shed up to 2.9% and 1.7%, respectively.

Financials declined as much as 1.1% to their lowest in a week.

The tech index, the only sub-index to trade in the positive territory, advanced 2.2% and hit a one-month high. Gains in Wisetech Global, up 5.7%, and Afterpay's 3.7% rise boosted the index.

In New Zealand, the benchmark S&P/NZX 50 index was down 0.1% at 11,795.99 by 0110 GMT.

The top percentage gainer on the benchmark was Serko Ltd , up 6.7%, while the top percentage loser was Vista Group International Ltd, down 3%. (Reporting by Arundhati Dutta in Bengaluru; editing by Uttaresh.V)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 1.51% 143.46 End-of-day quote.21.58%
BEACH ENERGY LIMITED -0.80% 1.855 End-of-day quote.2.77%
BHP GROUP 1.06% 46.62 End-of-day quote.9.88%
LONDON BRENT OIL 0.04% 56.08 Delayed Quote.7.08%
MESOBLAST LIMITED -0.82% 2.41 End-of-day quote.7.11%
OIL SEARCH LIMITED -1.15% 4.3 End-of-day quote.15.90%
RIO TINTO GROUP 2.05% 121.77 End-of-day quote.6.98%
RIO TINTO PLC 0.70% 5909 Delayed Quote.8.03%
S&P/ASX 200 -0.63% 6782.4 Real-time Quote.3.61%
SERKO LIMITED -1.42% 5.54 End-of-day quote.-4.32%
VISTA GROUP INTERNATIONAL LIMITED -1.36% 1.45 End-of-day quote.-13.69%
WISETECH GLOBAL LIMITED 1.78% 33.79 End-of-day quote.9.89%
WTI 0.06% 52.787 Delayed Quote.8.49%
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