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    XJO   XC0006013624

S&P/ASX 200

(XJO)
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SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Australia shares near two-week low as energy, financial stocks weigh

10/21/2020 | 08:57pm EDT

* Weak oil prices hammer energy index

* Woodside, Santos report lower qtrly revenue

* Financial index posts worst day since Sept. 30

Oct 22 (Reuters) - Australian shares slumped to a near two-week low on Thursday, weighed by energy and financial stocks, after an impasse in U.S. stimulus talks tempered market sentiment globally.

Broad-based losses pushed the S&P/ASX 200 index down 1.5% or 90.10 points to 6,101.70 by 2348 GMT. The benchmark gained 0.1% on Wednesday.

The energy index tumbled 2.5% to lead losses, as oil prices fell 3% overnight after U.S. inventory figures showed demand for refined products lagged as global coronavirus cases spiked.

Sector heavyweights Santos Ltd and Woodside Petroleum fell about 2% each as the oil and gas producers reported lower quarterly sales.

Wall Street fell overnight with investors fretting if the talks between lawmakers would result in a much-needed coronavirus relief bill as House Speaker Nancy Pelosi expressed doubts over its passage before the presidential elections.

Heavyweight Australian financial stocks slid 1.6% to mark its worst day since Sept. 30, pressured by a 5% drop in wealth manager AMP Ltd and losses in the "Big Four" banks.

Australia and New Zealand Banking Group, National Australia Bank Commonwealth Bank of Australia and Westpac Banking Corp - lost between 1.1% to 2%.

AMP said its Australian arm saw net outflows of A$1.95 billion ($1.38 billion) over three months ended Sept. 30 and flagged further losses of A$450 million in the coming quarter.

The healthcare index fell 0.5%, with industry behemoth CSL Ltd falling 1.8%.

In a bright spot, medical centre operator Healius Ltd rose 5.8% to top the ASX200 after giving a positive first-quarter update.

In New Zealand, the benchmark S&P/NZX 50 index fell 0.4% to 12,378.2.

Telecom infrastructure company Chorus Ltd and Skycity Entertainment Group Ltd fell 2.4% and 2.6%, respectively, and were among top laggards.

($1 = 1.4081 Australian dollars) (Reporting by Anushka Trivedi in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 1.63% 1.245 End-of-day quote.-20.19%
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -0.86% 28.98 End-of-day quote.27.67%
CHORUS LIMITED 2.43% 6.315 End-of-day quote.-20.16%
COMMONWEALTH BANK OF AUSTRALIA -2.10% 103.69 End-of-day quote.26.28%
CSL LIMITED 1.09% 305.52 End-of-day quote.7.89%
HEALIUS LIMITED 0.92% 4.38 End-of-day quote.17.43%
LONDON BRENT OIL 0.14% 73.7 Delayed Quote.41.20%
NATIONAL AUSTRALIA BANK LIMITED -0.52% 26.87 End-of-day quote.18.89%
S&P/ASX 200 -1.81% 7235.3 Real-time Quote.11.87%
SANTOS LIMITED -3.55% 7.34 End-of-day quote.17.07%
SKYCITY ENTERTAINMENT GROUP LIMITED -1.72% 3.43 End-of-day quote.6.85%
WESTPAC BANKING CORPORATION -0.22% 26.88 End-of-day quote.38.77%
WOODSIDE PETROLEUM LTD -2.15% 23.2 End-of-day quote.2.02%
WTI 0.10% 71.845 Delayed Quote.48.21%
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Chart S&P/ASX 200
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S&P/ASX 200 Technical Analysis Chart | MarketScreener
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Technical analysis trends S&P/ASX 200
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Top / Flop S&P/ASX 200
CLINUVEL PHARMACEUTICALS LIMITED 29.16 End-of-day quote.7.25%
AFTERPAY LIMITED 114.4 End-of-day quote.6.45%
WEBJET LIMITED 5.3 End-of-day quote.6.43%
WHITEHAVEN COAL LIMITED 1.91 End-of-day quote.5.82%
OOH!MEDIA LIMITED 1.86 End-of-day quote.5.38%
BHP GROUP 46.52 End-of-day quote.-2.45%
OIL SEARCH LIMITED 4.03 End-of-day quote.-2.89%
NEWCREST MINING LIMITED 25.96 End-of-day quote.-2.95%
SANTOS LIMITED 7.34 End-of-day quote.-3.55%
COOPER ENERGY LIMITED 0.25 End-of-day quote.-3.85%
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