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Markets

Australia shares fall amid broad-based losses, mixed Wall St finish

  • Meanwhile, Whitehaven Coal fell as much as 14.4% after it lowered its sales forecast for the year due to issues at its Narrabri underground mine.
Published April 15, 2021

Australian shares fell on Thursday, as losses across the board and a mixed finish on Wall Street overnight weighed on the benchmark index.

The S&P/ASX 200 index fell 0.33% to 7,000.2 in early trade, after having closed above 7,000-mark on Wednesday for the first time since late-February last year.

Wall Street's main indexes closed mixed overnight, with the Nasdaq Composite and S&P 500 seeing a fall. The Dow Jones Industrial Average rose on bumper bank earnings.

In other markets, Nikkei futures were up 0.32% and S&P 500 E-minis futures added 0.18%.

Australian tech shares fell 1.49%, led by losses in Nearmap Ltd, down 3.1%, and Xero Ltd that shed 2.83%.

The gold index declined 1.54%, led lower by Regis Resources Ltd, down 13.26%. Evolution Mining Ltd followed it with losses of 4.91%.

Miners rose 1.27% to limit losses on the benchmark. This was despite a fall in iron ore and gold prices.

Sandfire Resources Ltd jumped 4.2% to lead the gains on the sub-index, followed by Mineral Resources Ltd , up 3.43?%.

The energy sub-index rose 1% as oil prices surged almost 5% on Wednesday on hopes of a return in demand.

The rally was led by Ampol Ltd, up 3.52%, and Beach Energy Ltd that climbed 2.69?%.

Ampol on Thursday also reported that it expected to see recovery in Australian fuel demand as the year progresses.

Meanwhile, Whitehaven Coal fell as much as 14.4% after it lowered its sales forecast for the year due to issues at its Narrabri underground mine.

Financial stocks fell 0.41%. Zip Co Ltd fell 2.29% and Credit Corp Group Ltd slid 1.71%.

In New Zealand, the benchmark S&P/NZX 50 index fell as much as 0.88%, with Contact Energy losing the most, followed by Fisher & Paykel Healthcare Corporation. Both lost as much as 5% and 2.5%, respectively.

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