Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Australia shares edge lower as tech stocks weigh, Origin Energy top loser

07/29/2021 | 09:38pm EDT

July 30 (Reuters) - Australian shares fell slightly on Friday as losses in tech names overshadowed gains in mining and gold stocks, while Origin Energy dropped to the bottom of the benchmark index after issuing a grim outlook for its core earnings.

The S&P/ASX 200 index was down nearly 0.1% to 7,407.9 by 0112 GMT. It was on track for a small weekly gain, its third in a row.

Origin Energy fell as much as 8.1% after the power and gas retailer said it expected a A$2.25 billion ($1.66 billion) charge in fiscal 2021 and forecast lower core earnings in its energy markets business for the next two years.

While Origin Energy was the biggest loser on the benchmark index, rival AGL Energy declined as much as 4% to hit a record low.

Tech stocks fell more than 1.7% and were the biggest losers on the benchmark. Sector heavyweights Afterpay and Xero shed 2.9% and 0.5%, respectively .

Energy stocks were down 0.5% with Santos and Oil Search falling 0.6% and 0.8%, respectively.

Among gainers, heavyweight miners rose 1% on the back of strong copper prices, extending gains into a second session and hitting a record high.

Rio Tinto, BHP Group and Fortescue Metals climbed between 0.2% and 1.5%.

Gold stocks advanced more than 0.7% on firmer bullion prices. Newcrest Mining and Northern Star Resources were up 1.4% and 1.5%, respectively.

Investors were also worried about a spike in COVID-19 cases, which prompted authorities to extend a lockdown in the most populous state of New South Wales.

Financials were up 0.6% with the big four banks gaining between 0.3% and 1%.

New Zealand's S&P NZX/50 index was down 0.4%, with A2 Milk and Fletcher Building being the biggest drags. ($1 = 1.3523 Australian dollars) (Reporting by Tejaswi Marthi in Bengaluru; Editing by Subhranshu Sahu)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 0.88% 126.71 End-of-day quote.7.38%
AGL ENERGY LIMITED 3.56% 5.52 End-of-day quote.-53.81%
BHP GROUP 0.59% 37.75 End-of-day quote.-11.03%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.06% 16.61 End-of-day quote.5.25%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.12% 16.42 End-of-day quote.19.07%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.09% 53.1 End-of-day quote.20.14%
FLETCHER BUILDING LIMITED -2.04% 7.22 End-of-day quote.22.37%
FORTESCUE METALS GROUP LIMITED 0.34% 14.75 End-of-day quote.-37.05%
LONDON BRENT OIL 0.39% 74.95 Delayed Quote.45.09%
NEWCREST MINING LIMITED 0.77% 23.53 End-of-day quote.-8.73%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.00% 128 End-of-day quote.12.73%
NORTHERN STAR RESOURCES LIMITED 0.98% 9.25 End-of-day quote.-27.11%
OIL SEARCH LIMITED 1.08% 3.76 End-of-day quote.1.35%
ORIGIN ENERGY LIMITED 1.63% 4.37 End-of-day quote.-8.19%
RIO TINTO PLC 0.03% 4715.5 Delayed Quote.-13.95%
S&P GSCI CLASS III MILK (USD) 1.72% 130.2202 Delayed Quote.-3.60%
S&P/ASX 200 0.80% 7332.1 Real-time Quote.10.04%
SANTOS LIMITED 1.14% 6.19 End-of-day quote.-1.28%
THE A2 MILK COMPANY LIMITED -0.36% 5.53 End-of-day quote.-54.18%
WTI 0.50% 71.17 Delayed Quote.48.70%
XERO LIMITED 0.88% 147.69 End-of-day quote.0.59%
Latest news "Economy & Forex"
05:57pCanada's Aurora Cannabis to shut down a facility in Edmonton
05:43pStocks fail to rebound after Monday's sell-off
05:34pUtilities Shares Fall -- Utilities Roundup
05:34pThe WSJ Dollar Index Falls 0.05% to 87.79 -- Data Talk
05:34pEuro Lost 0.01% to $1.1728 -- Data Talk
05:34pSterling Gains 0.01% to $1.3659 -- Data Talk
05:33pEntergy estimates repair costs of up to $2.6 bln from Hurricane Ida
05:33pDollar Lost 0.17% to 109.22 Yen -- Data Talk
05:33pDogecoin Lost 3.68% to $0.202 at 5 p.m. ET -- Data Talk
05:33pDraftKings courts UK's Entain with $22.4 billion offer as U.S. sports betting spurs deals
Latest news "Economy & Forex"