Stock Market

“Market Wrap-Up: S&P/ASX 200 Dips by 0.08% as Australian Stocks Close Lower”

On Wednesday, Australian stocks dipped as losses in the Utilities, Metals & Mining and Materials sectors dragged shares lower.

The S&P/ASX 200 fell 0.08% at the close in Sydney. The session’s top performers on the S&P/ASX 200 were Pointsbet Holdings Ltd (ASX:PBH), which gained 7.77% or 0.11 points to reach 1.52 at the close. Ltd (ASX:KGN) rose 7.22% or 0.26 points to end at 3.86, and Gold Road Resources Ltd (ASX:GOR) was up 4.74% or 0.09 points to 1.88 in late trade. Conversely, the worst performers of the session were Mesoblast Ltd (ASX:MSB), which declined by 11.62% or 0.12 points to trade at 0.88 at the close.

Mineral Resources Ltd (ASX:MIN) lost 9.67% or 7.77 points to end at 72.59, while Pilbara Minerals Ltd (ASX:PLS) fell 5.91% or 0.25 points to 3.98.

Declining stocks outnumbered advancing ones on the Sydney Stock Exchange by 791 to 526, and 395 remained unchanged. Gold Road Resources Ltd (ASX:GOR) rose to 52-week highs, up 4.74% or 0.09 to 1.88. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 4.70% to 12.89.

In other market movements, Gold Futures for June delivery rose 0.09% or 1.85 to $2,006.35 a troy ounce. Meanwhile, crude oil for delivery in June rose 0.17% or 0.13 to hit $77.20 a barrel, while the July Brent oil contract rose 0.04% or 0.03 to trade at $80.63 a barrel. The AUD/USD remained unchanged at 0.66%, while AUD/JPY fell 0.34% to 88.28. The US Dollar Index Futures was down 0.28% at 101.31.

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