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

Australian shares drop on COVID-19 woes; RBA decision in focus

09/05/2021 | 09:09pm EDT

Sept 6 (Reuters) - Australian stocks fell on Monday as surging COVID-19 cases in the country dampened sentiment ahead of the central bank's September policy meeting where it could announce a decision on the tapering of its pandemic-era asset purchases.

The benchmark ASX 200 index fell 1.1% to 7,442.6 by 0032 GMT.

Uncertainty over the Reserve Bank of Australia's (RBA) policy lingered, with analysts undecided on whether the RBA will put off its tapering plans on Tuesday.

That piled on to the pressure already brought about by the country continuing its fight with raging COVID-19 infections, having reported 1,684 new cases on Sunday.

Among individual sectors and stocks, miners fell nearly 1%, with iron ore major Fortescue Metals dropping 10.8% to be the top loser on both the benchmark and the mining index.

The "Big Four" banks lost about 1% each, in line with the broader financials index that headed for its worst session in a week.

The energy index lost the most on the benchmark, shedding 2.2% on weaker oil prices.

Takeover target Oil Search gave Santos Ltd an extra week to complete due diligence for its proposed A$8.4 billion ($6.25 billion) buyout on Monday.

Bucking the trend, gold stocks rose 1.3% on strong bullion prices, with gold miners Northern Star Resources and Newcrest Mining gaining 1.5% and 1.8%, respectively.

In New Zealand, the benchmark NZX 50 index fell 0.3% to 13,245.22.

The top percentage losers on the main index were dairy firm A2 Milk Company Ltd, down 2.2%, followed by Serko Ltd , losing 1.9%.

Elsewhere, Japan's Nikkei was up 1.4%, while the S&P 500 E-minis futures were down 0.2%. ($1 = 1.3439 Australian dollars) (Reporting by Yamini C S in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FORTESCUE METALS GROUP LIMITED 1.96% 14.6 End-of-day quote.-37.69%
LINK ADMINISTRATION HOLDINGS LIMITED 1.17% 4.34 End-of-day quote.-21.80%
NEWCREST MINING LIMITED -0.24% 24.67 End-of-day quote.-4.31%
NORTHERN STAR RESOURCES LIMITED 0.31% 9.71 End-of-day quote.-23.48%
OIL SEARCH LIMITED -0.44% 4.52 End-of-day quote.21.83%
ORORA LIMITED -0.95% 3.13 End-of-day quote.15.93%
PORT OF TAURANGA LIMITED 1.92% 6.9 End-of-day quote.-6.76%
SANTOS LIMITED 0.00% 7.34 End-of-day quote.17.07%
SERKO LIMITED 0.25% 8.05 End-of-day quote.39.03%
SYNLAIT MILK LIMITED -3.83% 3.77 End-of-day quote.-27.92%
THE A2 MILK COMPANY LIMITED -1.94% 7.08 End-of-day quote.-41.34%
Latest news "Economy & Forex"
03:35pU.s. cdc says as of october 16, 10,114,824 people received a booster dose for covid-19 vaccine since august 13, 2021
RE
03:35pU.s. cdc says 188,902,483 individuals have been fully vaccinated against covid-19 as of oct 16 vs 188,655,196 individuals as of oct 15
RE
03:34pU.s. cdc says 218,562,924 individuals have received at least one dose of covid-19 vaccine as of oct 16 vs 218,318,056 individuals as of oct 15
RE
03:34pU.s. cdc says delivered 494,918,755 doses of covid-19 vaccine as of oct 16 vs 493,139,295 doses delivered as of oct 15
RE
03:34pU.s. cdc says administered 407,446,961 doses of covid-19 vaccine as of oct 16 vs 406,570,875 doses administered as of oct 15
RE
03:06pPetroecuador modifies terms for oil tenders
RE
01:52pECLAC ECONOMIC COMMISSION FOR LATIN AMERICA AND : Latin American and Caribbean Countries Will Analyze the Role of the State's Institutional Framework and of Planning for Development in the Post-Pandemic Recovery
PU
11:38aUK-France power link hit by fire set for partial restart ahead of plan
RE
11:04aIranian supertanker departing from Venezuela to transport heavy oil
RE
11:02aGlencore opens talks with Chad over debt restructuring
RE
Latest news "Economy & Forex"