AU Evening Wrap: ASX Falls 0.1%; Paladin Energy Plunges 20%

The $S&P/ASX 200(.XJO.AU)$ slipped 0.1 per cent to 7209.3 on a day when stocks swung between gains and losses.

Energy and REIT stocks weighed down the benchmark S&P/ASX 200 index. $Paladin Energy Ltd(PDN.AU)$ was the worst performer, and its shares tumbled nearly 20 per cent for the day. It was placed in a trading halt as traders fretted over a threat by Namibia to nationalise some natural resources.

Real estate stocks shed 0.9 per cent. The last time the sector lost more than that was over two weeks ago on April 9. $Charter Hall Group(CHC.AU)$ shares dropped 2.2 per cent. $GPT Group(GPT.AU)$ 1.4 per cent, $Vicinity Centres(VCX.AU)$ 1.6 per cent, $Stockland Corp Ltd(SGP.AU)$ 1.1 per cent and $Scentre Group(SCG.AU)$ 1.4 per cent.

$Wesfarmers Ltd(WES.AU)$ edged up 0.5 per cent after its chief executive Rob Scott updated investors on its operations. The company also declined to lift its bid for $SILK Laser Australia Ltd(SLA.AU)$.

$Qantas Airways Ltd(QAN.AU)$ rallied 2.7 per cent after it flagged a $400 million profit surge from ultra-long haul flights at the company's investor day.