AU Evening Wrap: Australia Shares Fall 0.3% Amid Commodity Weakness
Market Performance
Australia's $S&P/ASX 200 (.XJO.AU)$ closed 0.3% lower at 7737.1, dragged lower by weakness in commodity stocks. With U.S. stocks providing a mixed lead, the benchmark index spent most of Tuesday's session trading in a narrow 45-point range on either side of the gain-line, before dropping to finish at a session low.
The heavyweight materials sector lost 0.9%. Gold stocks rose, but iron-ore miners $Rio Tinto Ltd (RIO.AU)$, $BHP Group Ltd (BHP.AU)$ and $Fortescue Ltd (FMG.AU)$ shed between 0.8% and 1.9%. Energy was the worst performing of the ASX 200's 11 sectors, shedding 1.6% on declines in oil stocks.
The financial sector edged 0.2% higher as banks $National Australia Bank Ltd (NAB.AU)$, $Westpac Banking Corp (WBC.AU)$ and $CommBank (CBA.AU)$ rose between 0.3% and 1.0%.
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Source: Dow Jones Newswires, AFR, ASX
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