AU Evening Wrap: ASX Drops, Weighed Down by BHP, Fortescue

Moomoo News AU wrote a column · May 24, 2023 15:30

G'day, mooers! Check out the latest news on today's stock market!
• Top gainers: $Genesis Energy Ltd (GNE.AU)$, $Qantas Airways Ltd (QAN.AU)$, $Fletcher Building Ltd (FBU.AU)$
• Top losers: $Novonix (NVX.AU)$, $Eagers Automotive Ltd (APE.AU)$, $Coronado Global Resources Inc (CRN.AU)$
- moomoo News AU

The $S&P/ASX 200 (.XJO.AU)$ dropped 0.6 per cent, or 46.1 points to 7213.8 at market close, weighed down by the materials and healthcare sectors.

The major miners recorded sharp falls during the late afternoon trading session as iron ore futures lowered.

Iron ore futures traded lower on the Singapore exchange, down 4 per cent to $US95.95 ($145.62) a tonne on the June contract.

$BHP Group Ltd (BHP.AU)$ shares shed 2.2 per cent. $Fortescue Ltd (FMG.AU)$ dropped 4.1 per cent. $Rio Tinto Ltd (RIO.AU)$ lost 2.1 per cent. $Mineral Resources Ltd (MIN.AU)$ fell 3 per cent.

Meanwhile, gold stocks rallied. $West African Resources Ltd (WAF.AU)$ jumped 4.7 per cent and was the best-performing stock. $Bellevue Gold Ltd (BGL.AU)$ shares rose 2.4 per cent. $Capricorn Metals Ltd (CMM.AU)$ was up 2.1 per cent. $Regis Resources Ltd (RRL.AU)$ added 1.5 per cent.

$Web Travel Group Ltd (WEB.AU)$ jumped 3.8 per cent after it reported a 164 per cent boost to its revenue in FY23.

$Qantas Airways Ltd (QAN.AU)$ shares bounced back from yesterday's losses, up 1.9 per cent.

Baby formula manufacturer $BUBS Australia Ltd (BUB.AU)$ shares dropped 5 per cent after the company's chief financial officer tendered their resignation.

S&P/ASX 200 Movers for Wednesday (24/5)

AU Evening Wrap: ASX Drops, Weighed Down by BHP, Fortescue

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 Wednesday (24/5)

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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