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 slip as virus restrictions threaten economic recovery

07/22/2021 | 09:01pm EST

July 23 (Reuters) - Australian shares slipped on Friday from a record closing high scaled the previous day, as strict restrictions in major cities dampened sentiment, while casino operator Crown Resorts slumped after Star Entertainment withdrew its takeover bid.

The S&P/ASX 200 index fell 0.21% to 7,371.1 by 0015 GMT, but was on track for a weekly gain.

Strict restrictions in major cities, specifically in Sydney, are threatening the country's economic recovery, with some analysts expecting the economy to shrink in the third quarter.

Miners were the top percentage losers in the index, shedding as much as 0.7%. Silver Lake Resources Ltd fell 9.35%, while MACA Ltd dropped 3.76%.

Among financials, top lenders Commonwealth Bank of Australia and Westpac Banking Corp advanced as much as 1.1% and 1.3%, respectively.

Energy stocks fell 1.1%, led by Santos Ltd , which dropped 1.6%, and Oil Search Ltd, which lost 1.47%.

Star Entertainment Group jumped 1.7% after it withdrew its all-stock proposed takeover of rival Crown Resorts for $9 billion. Crown Resorts declined 4.4%.

Among top percentage losers on the benchmark index, Northern Star Resources fell 3.44% and Westgold Resources slipped 2.6%.

In New Zealand, the benchmark S&P/NZX 50 index fell up to 0.21% to 12,693.62.

Top percentage losers on the benchmark were a2 Milk Co , down 1.64%, followed by Vista Group International , losing 1.32% and Vital Healthcare Property Trust , down 0.94%.

Elsewhere, S&P 500 E-minis futures were up 0.21%. (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COMMONWEALTH BANK OF AUSTRALIA -1.26% 97.37 Delayed Quote.-3.59%
CROWN RESORTS LIMITED -0.72% 12.46 Delayed Quote.4.18%
MACA LIMITED -1.97% 0.745 Delayed Quote.-9.15%
NORTHERN STAR RESOURCES LIMITED 1.03% 9.83 Delayed Quote.4.46%
OIL SEARCH -2.42% 4.04 End-of-day quote.0.00%
S&P/ASX 200 -2.27% 7175.8 Real-time Quote.-3.61%
SANTOS LIMITED -2.62% 7.07 Delayed Quote.12.04%
SILVER LAKE RESOURCES LIMITED 0.81% 1.86 Delayed Quote.4.79%
THE A2 MILK COMPANY LIMITED -4.20% 5.48 End-of-day quote.-7.59%
THE STAR ENTERTAINMENT GROUP LIMITED -3.17% 3.36 Delayed Quote.-8.70%
VISTA GROUP INTERNATIONAL LIMITED 1.37% 2.22 End-of-day quote.-7.11%
VITAL HEALTHCARE PROPERTY TRUST 0.48% 3.17 End-of-day quote.0.63%
WESTGOLD RESOURCES LIMITED 0.99% 2.04 Delayed Quote.0.00%
WESTPAC BANKING CORPORATION -0.62% 20.98 Delayed Quote.-1.73%
Latest news "Economy & Forex"
01/21Magnitude 6 earthquake strikes Sarangani, Philippines - USGS
01/21Two Canadians die in shooting at Mexican Caribbean resort
01/21Anti-abortion activists march in Washington, hoping it's the last time under Roe v. Wade
01/21U.S. charges Texas man for threatening Georgia election officials
01/21Haitian judge in charge of Moise murder investigation quits
01/21London theatre musical remembers Meat Loaf
01/21Acacia research corp., which starboard controls, offered to buy…
01/21Consortium led by acacia research bids roughly $9 billion for ko…
01/21U.N. chief condemns deadly Saudi-led coalition strike in Yemen
01/21'SMELLS LIKE DEATH' : Peru oil spill clear-up drags on as fishermen count cost
Latest news "Economy & Forex"