AU Evening Wrap: Australia Shares Fall 1.1% Amid Broad-Based Declines
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.
Top News
Morningstar Analyst Predicts 60% Chance of BHP Successfully Acquiring Anglo American
According to Morningstar's resources analyst, Jon Mills, BHP's enhanced $74 billion bid for Anglo American has a 60% chance of resulting in a completed deal. The extension of the offer period under the UK's Takeover's code for one week increases the probability of the deal being done to 40%, either under the current offer or with a 20% chance of BHP raising its bid by 5% to secure the deal.
Source: Dow Jones Newswires, AFR, ASX
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
Australian stock market news that is available at your fingertips
4833Followers
6Following
175KVisitors
Follow