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 fall after Wall Street sell-off; Oil Search jumps

07/19/2021 | 09:12pm EDT

July 20 (Reuters) - Australian shares fell more than 1% on Tuesday, following a sell-off on Wall Street as rising global coronavirus cases soured risk appetite, while Oil Search jumped after rejecting a takeover bid from Santos.

The S&P/ASX 200 index was down 1.1% to 7,205.0 by 0014 GMT, hitting its lowest level since June 2.

Overnight, all three major U.S. stock indexes ended sharply lower as rising Delta variant infections dampened risk appetite and revived worries about a slowdown in economic recovery and fresh lockdowns.

Heavyweight miners were the top drags on the Australian benchmark index, losing as much as 2.2%.

Perenti Global and Champion Iron were the biggest losers in the sub-index, shedding 6.7% and 4.6%, respectively.

BHP Group slipped 2.7% after the world's largest listed miner reported a drop in its fourth-quarter iron ore output, and lower annual production across four of its six major divisions.

Energy stocks fell 2.3% and were headed for a fourth consecutive session of drop, with Worley and Beach Energy being the top drags, losing about 4% each.

Oil Search jumped as much as 5.2% after it rejected a takeover offer by Santos, which valued the Papua New Guinea-focused oil and gas producer at A$8.83 billion ($6.48 billion), saying it was "not in the best interest of shareholders".

Tech stocks erased early gains to trade 0.4% higher, with buy-now-pay-later firm Afterpay adding 1.9% after it announced the launch of a new banking application in October.

New Zealand's benchmark S&P/NZX 50 index fell 0.9% to 12,543.8, hitting its lowest since June-end.

The top percentage losers were Serko, down 3.4%, and Vista Group International, losing 2.8%.

Elsewhere, Japan's Nikkei was down 0.81% to 27,429.12, while S&P 500 E-minis futures were up 0.37%. ($1 = 1.3626 Australian dollars) (Reporting by Sameer Manekar in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.06% 123.54 End-of-day quote.4.69%
BEACH ENERGY LIMITED 2.34% 1.095 End-of-day quote.-39.34%
BHP GROUP 0.97% 40.65 End-of-day quote.-4.20%
CHAMPION IRON LIMITED -2.01% 5.35 End-of-day quote.12.63%
LONDON BRENT OIL 0.35% 75.62 Delayed Quote.42.98%
NIKKEI 225 -0.62% 30323.34 Real-time Quote.11.18%
OIL SEARCH LIMITED 2.09% 3.9 End-of-day quote.5.12%
PERENTI GLOBAL LIMITED 2.22% 0.92 End-of-day quote.-32.85%
S&P 500 -0.16% 4473.75 Delayed Quote.18.29%
S&P/ASX 200 0.58% 7460.2 Real-time Quote.12.60%
SANTOS LIMITED 2.24% 6.4 End-of-day quote.2.07%
SERKO LIMITED -1.63% 7.87 End-of-day quote.35.92%
VISTA GROUP INTERNATIONAL LIMITED -1.18% 2.52 End-of-day quote.50.00%
WORLEY LIMITED -2.30% 9.79 End-of-day quote.-14.80%
WTI 0.04% 72.561 Delayed Quote.46.90%
Latest news "Economy & Forex"
04:51pECB's Lane reveals in private meeting inflation target may be hit by 2025 - report
RE
04:47pAnalysis-Powell, juggling policy and renomination, now faces an ethics blowup
RE
04:40pGeorgieva pressured World Bank employees to favor China in report -ethics probe
RE
04:36pU.S. Gulf crude oil ramps up after hurricane losses -data
RE
04:34pGM extends EV Bolt production halt to mid-October
RE
04:31pExclusive-Warburg Pincus seeks $16 billion for private equity fund -sources
RE
04:27pTSX falls as Fed taper risk weighs on mining shares
RE
04:25pTSX falls as Fed taper risk weighs on mining shares
RE
04:25pSunak to set out new fiscal rules to control UK borrowing -FT
RE
04:20pChip supply, testing woes to further curb light vehicle production in 2021- IHS Markit
RE
Latest news "Economy & Forex"