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 NewsOther languagesNews of the index componentsMarketScreener Strategies

Australia shares finish lower as mining, energy stocks fall

10/16/2020 | 02:02am EST

* ASX benchmark gains 1.3% on a weekly basis

* Energy stocks slip on falling oil prices

* NZ down ahead of election results on Saturday

Oct 16 (Reuters) - Australian shares edged lower on Friday, dragged down by mining stocks after Rio Tinto raised concerns about steel production outside China, with sentiment taking a hit from a resurgence in coronavirus cases in Europe.

The S&P/ASX 200 index closed 0.5% lower at 6,176.80, having risen 0.5% on Thursday. The benchmark rose 1.2% this week, recording its second straight weekly gain.

Shares of Rio Tinto fell 0.9% after the world's biggest iron ore miner said steel production outside of China remains significantly down year on year while rising coronavirus cases were putting global economic growth at risk.

The broader mining sector lost 0.6%, while benchmark heavyweight BHP Group Ltd ended 1.4% lower.

Asian shares also declined as U.S. stimulus talks stalled and rising coronavirus cases in Europe forced some countries there to revive curfews and lockdowns.

"We continue to see the big lift in COVID-19 cases, particularly across Europe, and now new restrictions coming through a number of European countries ... is another concern," said James Tao, market analyst at CommSec.

"Plenty of risk, plenty of volatility at the moment, so investors are taking any chance to take a bit of profit."

The Australian energy sector fell 1%, tracking lower oil prices. Sector heavyweight Santos fell 2%, while Oil Search tumbled 3%.

Healthcare stocks declined 0.7%, dragged lower by CSL which slid 0.7%.

New Zealand's benchmark S&P/NZX 50 index closed 0.4% lower at 12,433.16, ahead of election results on Saturday.

An opinion poll showed current Prime Minister Jacinda Ardern from the Labour Party is widely expected to beat her main rival, National Party leader Judith Collins, on the back of her success in tackling the coronavirus.

The top losers were Contact Energy Ltd, down 4.4%, and Meridian Energy Ltd, losing 4.2%.

(Reporting by Nikhil Subba in Bengaluru; Editing by Aditya Soni)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED 0.17% 71.73 End-of-day quote.-0.37%
BHP GROUP 1.06% 46.62 End-of-day quote.9.88%
CONTACT ENERGY LIMITED -4.00% 8.87 End-of-day quote.-0.45%
CSL LIMITED 0.34% 275.54 End-of-day quote.-2.70%
LONDON BRENT OIL -0.36% 55.9 Delayed Quote.7.08%
MERIDIAN ENERGY LIMITED -2.47% 7.9 End-of-day quote.6.47%
OIL SEARCH LIMITED -1.15% 4.3 End-of-day quote.15.90%
RAMSAY HEALTH CARE LIMITED 1.00% 63.33 End-of-day quote.1.85%
RIO TINTO GROUP 2.05% 121.77 End-of-day quote.6.98%
S&P/ASX 200 -0.65% 6780.6 Real-time Quote.3.61%
SANTOS LIMITED -0.69% 7.16 End-of-day quote.14.19%
WOODSIDE PETROLEUM LTD -0.87% 26.33 End-of-day quote.15.79%
WTI 0.07% 52.82 Delayed Quote.8.49%
All news about S&P/ASX 200
06:21aWall Street Choppy Pre-Bell; Futures Mixed, Europe Lower, Asia Uneven
04:50aS&P/ASX 200 : Australia's Q4 Inflation Tops Market Forecasts on Increased Tobacc..
12:59aAustralia shares retreat from 11-mth high as resource firms fall
12:20aAustralian Shares Post Moderate Losses as Business Confidence Falls; Rise in ..
12:02aS&P/ASX 200 : Australian Shares Post Moderate Losses at Close as Business Confid..
01/26S&P/ASX 200 : Australian Business Conditions Rise in December 2020, But Confiden..
01/26S&P/ASX 200 : Rise in Australian Consumer Prices Slows in Q4 2020, But Exceeds F..
01/26Australia shares fall from 11-month high as big miners, energy stocks weigh
01/26TRACKINSIGHT : Stocks Higher Despite Worries about the Impact of the Latest Surg..
01/26New Zealand shares end lower weighed by travel, utility stocks; Australia clo..
More news
News of the index components S&P/ASX 200
08:40aRESOLUTE MINING LIMITED : - Tabakoroni Underground Mineral Resource Update
08:39aRESOLUTE MINING LIMITED : - Quarterly Conference Call Details
06:19aBHP GROUP : Goldman Sachs maintains a Buy rating
04:50aRESOLUTE MINING : Upgrades Tabakoroni Mineral Resource Estimate
03:22aNATIONAL AUSTRALIA BANK : Ceasing to be a substantial holder for NEC
01:44aSONIC HEALTHCARE : Appendix 2AOpens in a new Window
01:42aARISTOCRAT LEISURE : Notice of 2021 Annual General Meeting and Proxy Form
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
Heatmap :