AGL 6.45 No Change ▼ 0.00 (0%)
ANL 9.70 Increased By ▲ 0.20 (2.11%)
AVN 77.60 Increased By ▲ 2.65 (3.54%)
BOP 5.43 Increased By ▲ 0.08 (1.5%)
CNERGY 4.97 Increased By ▲ 0.17 (3.54%)
EFERT 77.25 Decreased By ▼ -0.75 (-0.96%)
EPCL 55.49 Increased By ▲ 1.34 (2.47%)
FCCL 15.36 Increased By ▲ 0.36 (2.4%)
FFL 6.48 Increased By ▲ 0.28 (4.52%)
FLYNG 7.47 Increased By ▲ 0.46 (6.56%)
GGGL 10.45 Increased By ▲ 0.40 (3.98%)
GGL 16.39 Increased By ▲ 0.45 (2.82%)
GTECH 8.37 Increased By ▲ 0.52 (6.62%)
HUMNL 6.45 Increased By ▲ 0.18 (2.87%)
KEL 2.93 Increased By ▲ 0.10 (3.53%)
LOTCHEM 28.34 Increased By ▲ 0.69 (2.5%)
MLCF 28.08 Increased By ▲ 1.08 (4%)
OGDC 73.85 Increased By ▲ 0.50 (0.68%)
PAEL 15.55 Increased By ▲ 0.25 (1.63%)
PIBTL 5.35 Increased By ▲ 0.20 (3.88%)
PRL 17.39 Increased By ▲ 1.29 (8.01%)
SILK 1.07 Increased By ▲ 0.03 (2.88%)
TELE 10.96 Increased By ▲ 0.51 (4.88%)
TPL 7.81 Increased By ▲ 0.12 (1.56%)
TPLP 19.66 Increased By ▲ 0.44 (2.29%)
TREET 23.85 Increased By ▲ 1.10 (4.84%)
TRG 126.90 Increased By ▲ 11.00 (9.49%)
UNITY 23.06 Increased By ▲ 1.26 (5.78%)
WAVES 11.55 Increased By ▲ 0.40 (3.59%)
WTL 1.14 Increased By ▲ 0.02 (1.79%)
BR100 4,126 Increased By 86.6 (2.14%)
BR30 15,495 Increased By 511.5 (3.41%)
KSE100 41,152 Increased By 531.3 (1.31%)
KSE30 15,420 Increased By 206.9 (1.36%)
Markets

Australia shares drop on virus worries; miners drag

  • Gold miner Chalice Mining Ltd led gains, advancing 8.5%, followed by Tietto Minerals Ltd.
Published May 26, 2021
Follow us

Australian shares looked set to snap a four-day winning rally on Wednesday as blue-chip miners dragged and a rise in domestic coronavirus cases sparked fears of a snap lockdown in the state of Victoria.

The S&P/ASX 200 index fell 0.23% to 7,098.6 points by 0024 GMT, a retreat from Tuesday's two-week closing peak. The benchmark closed 0.98% higher in the previous session.

Australia's second-most populous state of Victoria recorded six new cases of COVID-19 on Wednesday, after an infected person was among about 23,400 people who attended a football match at the Melbourne Cricket Ground during the weekend.

Heavyweight Aussie miners tumbled 0.9% as China's warning against hoarding and speculation kept market participants on the edge and pressured iron ore prices.

The country's mining triumvirate, BHP Group, Rio Tinto and Fortescue Metals, all tumbled over 2% each.

Local energy stocks dived 1%, even as oil prices moved a shade higher overnight.

Sector heavyweights, Worley Ltd fell 1.8%, followed by Beach Energy Ltd, losing 1.4%.

In contrast, gold stocks vaulted 2.2% as the dollar and US Treasury yields slipped amid expectations that the Federal Reserve would keep its monetary policy accommodative.

Gold miner Chalice Mining Ltd led gains, advancing 8.5%, followed by Tietto Minerals Ltd.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index rose 0.1% to 12,358.9, ahead of the central bank's quarterly monetary policy announcement later in the day.

In other markets, Japan's Nikkei was up 0.17% at 28601.36, and the S&P 500 E-minis futures were up 12.5 points, or 0.3%.

Comments

Comments are closed.