AU Evening Wrap: Banks Steer Market Lower As Yields Rise

Moomoo News AU wrote a column · Oct 21, 2022 14:57

G'day, mooers! Check out the latest news on today's stock market!
• ASX 200 closed lower Friday, dropping 53.90 points or 0.80% to 6,676.80.
• Top gainers: $Telix Pharmaceuticals Ltd (TLX.AU)$ $Yancoal Australia Ltd (YAL.AU)$ $Coronado Global Resources Inc (CRN.AU)$
• Top losers: $HMC Capital Ltd (HMC.AU)$ $Origin Energy Ltd (ORG.AU)$ $Netwealth Group Ltd (NWL.AU)$
- moomoo News AU

The share market wrapped up a losing week with a second-straight decline as borrowing costs on both sides of the Pacific tested multi-year highs.

The $S&P/ASX 200 (.XJO.AU)$ dropped 54 points or 0.8 per cent this afternoon to 6677.

For the week, the Australian benchmark lost 82 points or 1.2 per cent. The market has logged only one weekly advance in six weeks, and just two since mid-August.

Gains in energy producers and gold miners were outweighed today by declines across the broader market. Banks and property stocks were among the biggest drags.

Coal mining provided most of the day's best performers. $New Hope Corp Ltd (NHC.AU)$ surged 7.69 per cent to an all-time high. $Coronado Global Resources Inc (CRN.AU)$ put on 5.73 per cent. $Whitehaven Coal Ltd (WHC.AU)$ added 4.59 per cent.

$Telix Pharmaceuticals Ltd (TLX.AU)$ jumped 12.67 per cent as investors reassessed yesterday's trading update. Gold miner $Perseus Mining Ltd (PRU.AU)$ climbed 5.85 per cent.

The big four high-street banks pulled back from multi-month highs. Bank stocks rallied earlier in the week after a strong earnings result from Bank of America underlined the income boost from higher rates.

This afternoon, $Commonwealth Bank of Australia (CBAPK.AU)$ eased 1.48 per cent, $ANZ Group Holdings Ltd (ANZ.AU)$ 1.08 per cent, $National Australia Bank Ltd (NAB.AU)$ 1.54 per cent and Westpac 0.79 per cent.

S&P/ASX 200 Movers for Friday (21/10)

AU Evening Wrap: Banks Steer Market Lower As Yields Rise

How to find the above information in moomoo app:

1. Open moomoo app

2. Search for and tap on ".XJO"

3. Roll down to see "Constituent Stocks"

4. You can filter the list based on "%Chg"

10 Top-Traded AU Stocks for Friday (21/10)

How to find the above information in moomoo app:

1. Open moomoo app

2. Tap your finger on "Market" and "AU"

3. Roll down and tap on "Main Board"

4. You can filter the list based on "Turnover"

Source: Dow Jones Newswires, The Market Herald

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more

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