Stock Market

Australia Stocks Finish Lower; S&P/ASX 200 Drops 0.05% at Closing

Australia Stocks Finish Lower; S&P/ASX 200 Drops 0.05% at Closing

The stock market in Australia experienced a decline on Tuesday, with losses observed in the Gold, Consumer Discretionary, and Consumer Staples sectors, leading to a drop in share prices.

By the end of the trading session in Sydney, the S&P/ASX 200 had decreased by 0.05%.

Among the top performers on the S&P/ASX 200 were Zip Co Ltd (ASX:ZIP), which saw a 12.73% increase, or 0.07 points, closing at 0.62. Tabcorp Holdings Ltd (ASX:TAH) also had a positive performance, rising by 3.20% or 0.04 points, reaching 1.13, while Technology One Ltd (ASX:TNE) gained 2.81% or 0.43 points, concluding at 15.75 in late trading.

On the other hand, the session’s worst performers included Elders Ltd (ASX:ELD), which experienced a decline of 4.34% or 0.30 points, finishing at 6.61. Austal Ltd (ASX:ASB) dropped by 4.25% or 0.09 points, reaching 1.92, and St Barbara Ltd (ASX:SBM) fell by 3.31% or 0.02 points, ending at 0.58.

The number of declining stocks exceeded the number of advancing ones on the Sydney Stock Exchange, with 656 stocks falling, 577 rising, and 446 remaining unchanged.

Elders Ltd (ASX:ELD) shares reached a three-year low, declining by 4.34% or 0.30 to 6.61, while Technology One Ltd (ASX:TNE) shares reached an all-time high, increasing by 2.81% or 0.43 to 15.75.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, decreased by 1.33% to 12.19.

In commodities trading, Gold Futures for June delivery dropped by 0.92% or 18.10 to $1,959.10 per troy ounce. Crude oil for July delivery also experienced a decline of 0.15% or 0.11, reaching $71.94 per barrel, while the July Brent oil contract fell by 0.17% or 0.13, trading at $75.86 per barrel.

The AUD/USD currency pair remained unchanged at 0.66, while AUD/JPY fell by 0.43% to 91.81.

The US Dollar Index Futures increased by 0.18%, reaching 103.26.

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