AU Evening Wrap: Australia Shares Fall 1.1% Amid Broad-Based Declines

Moomoo News AU wrote a column · May 24, 2024 15:32

• Top gainers: $Challenger Ltd (CGF.AU)$, $Summerset Group Holdings Ltd (SNZ.AU)$, $Sandfire Resources Ltd (SFR.AU)$
• Top losers: $Fletcher Building Ltd (FBU.AU)$, $Emerald Resources NL (EMR.AU)$, $Treasury Wine Estates Ltd (TWE.AU)$

Market Performance

Australia's $S&P/ASX 200 (.XJO.AU)$ closed 1.1% lower at 7727.6, to notch its fourth successive day of lower closes. All sectors fell, with consumer discretionary stocks leading the losses, falling 2.5%. Consumer staples and technology stocks closed 1.5% lower each. A selloff on Wall Street rattled the market, with banks losing ground.

The major lenders fell between 1.0% and 1.6%. $Macquarie Technology Group Ltd (MAQ.AU)$ lost 0.8%. $Fletcher Building Ltd (FBU.AU)$ was the worst performing stock, closing 6.1% lower.

Industrial stocks $Johns Lyng Group Ltd (JLG.AU)$ and $Reliance Worldwide Corp Ltd (RWC.AU)$ fell 3.0% and 2.4%, respectively. $NRW Holdings Ltd (NWH.AU)$ offset some of its losses, closing 2.8% higher, to become the day's best performer.

The ASX 200 closed 1.1% lower for the week, the only negative weekly close in May.

Source: ASX

AU Evening Wrap: Australia Shares Fall 1.1% Amid Broad-Based Declines

Top News

Morningstar Analyst Predicts 60% Chance of BHP Successfully Acquiring Anglo American

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Source: Dow Jones Newswires, AFR, ASX

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