News Formal

Energy, mining stocks drag ASX lower

  • 📰 theage
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 77%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Energy and mining stocks continued to drag the Australian sharemarket lower at midday, with the local bourse sharply retreating from last week’s record highs.

The S&P/ASX 200 Index tumbled 107 points, or 1.36 per cent, to 7740 at about 1pm. All 11 sectors were in the red, with energy and mining stocks leading the declines.Consumer staples recorded the smallest falls.

Iron ore fell 1.6 per cent to $US114.85 a tonne and Brent Crude was down 1.3 per cent to $US81.86 a barrel. The Australian dollar was flat at US66.2¢. The S&P 500 Index and Nasdaq Composite Index briefly hit record intraday highs Friday, but started to lose steam late morning. The Philadelphia Semiconductor Index sharply underperformed and ended the day to end the trading session down 4 per cent, after earlier touching an intraday record high.

Stocks had opened higher after data showed US job growth accelerated in February, with non-farm payrolls increasing by 275,000 jobs against an expected 200,000 rise. January jobs numbers were revised lower.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Energy stocks GNX: The ASX is not the place for pure energy transition betsThe ASX just hasn’t cracked it as a destination for the next wave of green electricity generators. Genex Power is the latest to be worth more in private hands.
Source: FinancialReview - 🏆 2. / 90 Read more »

Energy, mining stocks drag ASX lowerEnergy and mining stocks continued to drag the Australian sharemarket lower at midday, with the local bourse sharply retreating from last week’s record highs.
Source: smh - 🏆 6. / 80 Read more »

Energy, mining stocks drag ASX lowerEnergy and mining stocks continued to drag the Australian sharemarket lower at midday, with the local bourse sharply retreating from last week’s record highs.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Australian Energy Minister Rejects Idea of Nuclear IndustryThe energy minister, Chris Bowen, dismisses the idea of establishing a nuclear industry in Australia and criticizes the opposition's plan to give up on renewables.
Source: GuardianAus - 🏆 1. / 98 Read more »