Account Info
Log Out
English
Back
Log in to access Online Inquiry
Back to the Top

AU Evening Wrap: Australian Shares Dropped 0.8% as Mining Stocks Continue Slide

avatar
Moomoo News AU wrote a column · Jun 24 02:26
Market Performance
The $S&P/ASX 200(.XJO.AU)$ in Australia closed 0.8% lower at 7733.7, driven by a slump in mining stocks.
The materials sector, in particular, fell by 1.1% due to a decline in commodity prices, resulting in a 6.7% retreat so far this month. $BHP Group Ltd(BHP.AU)$, $Rio Tinto Ltd(RIO.AU)$, and $Fortescue Ltd(FMG.AU)$, the three major iron-ore miners, experienced losses ranging from 0.8% to 2.1%. This marks the sixth consecutive weekly decline for the materials sector. Only the industrials sector saw gains. Meanwhile, banks such as $Westpac Banking Corp(WBC.AU)$, $CommBank(CBA.AU)$, $National Australia Bank Ltd(NAB.AU)$, and $ANZ Group Holdings Ltd(ANZ.AU)$ lost between 0.3% and 1.0%. Investors are anticipating the release of May inflation data midweek, which could potentially influence the expected movement of interest rates.
Source: ASX
Source: ASX
AU Evening Wrap: Australian Shares Dropped 0.8% as Mining Stocks Continue Slide
AU Evening Wrap: Australian Shares Dropped 0.8% as Mining Stocks Continue Slide
Top News
ResMed shares fall following Eli Lilly drug trial results
Shares in ResMed, a supplier of breathing technology, have taken a hit following the announcement by drug-maker Eli Lilly that its tirzepatide weight-loss drug reduced the severity of sleep apnea in 43% of patients in late-stage trials. When combined with positive airway pressure therapy, which is administered by ResMed machines, the number rose to 51.5%.
Premier Investments Considers Myer's Proposal for Apparel Business Exchange
Australian retail giant $Premier Investments Ltd(PMV.AU)$ is currently evaluating a proposal from $Myer Holdings Ltd(MYR.AU)$, which involves exchanging Premier's apparel business for shares and a position on Myer's board. The proposed combination would merge the 124-year-old department store operator with Premier's apparel business, which encompasses 717 stores across Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti brands.
Source: Dow Jones Newswires, AFR, ASX
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
6
1
+0
2
Translate
Report
34K Views
Comment
Sign in to post a comment
avatar
Moomoo News Official Account
Australian stock market news that is available at your fingertips
3885Followers
6Following
110KVisitors
Follow