slightly lower Australian market | Nasdaq
(RTTNews) – The Australian stock market is down slightly in a shortened last trading session of the year on Friday, ending the six-game winning streak, with the benchmark S & P / ASX 200 below the 7,500 level, following broadly negative signals overnight from Wall Street as traders boo their profits after the recent streak of gains. Commercial activity has remained somewhat subdued, with some traders looking to get a head start on the New Year’s festivities.
Meanwhile, traders remain concerned about the increase in national cases of Covid-19. New South Wales continues to hit new daily records of 21,151 new cases and six deaths on Thursday. Victoria reported a new daily record of 5,919 new cases and seven deaths. Queensland has registered 2,222 new cases.
The benchmark S & P / ASX 200 is down 39.40 points or 0.52% to 7,474.00, after hitting an earlier low of 7,463.30. The larger All Ordinaries Index was down 37.00 points or 0.47% to 7,806.70. Australian markets ended slightly higher on Thursday.
Among the major miners, Rio Tinto grew 0.2% and Fortescue Metals gained more than 1%, while OZ Minerals and BHP Group lost almost 1% each. Mineral resources are declining by almost 2 percent.
Oil stocks are mostly down. Woodside Petroleum is down more than 1 percent, Origin Energy is down almost 1 percent and Santos is down 0.2 percent, while Beach energy is up 0.4 percent. Among tech stocks, Appen, WiseTech Global and Xero lose more than 1% each, while Afterpay gains almost 1% and Zip adds more than 1%.
Among the big four banks, Westpac fell 0.5%. The National Australia Bank is down more than 1%, while Commonwealth Bank and ANZ Banking are down almost 1% each.
Gold miners are higher as gold prices have surged overnight. Resolute Mining increases nearly 7%, Northern Star Resources adds almost 3% and Gold Road Resources increases more than 1%, while Evolution Mining and Newcrest Mining each gain almost 2%.
In the currency market, the Australian dollar is trading at $ 0.725 on Friday.
On Wall Street, stocks came under pressure ahead of the market close on Thursday after experiencing modest strength for much of the trading session. The major averages have retreated from their best levels of the day and moved into negative territory.
The major averages all ended the day moderately below the line unchanged. The Dow Jones lost 90.55 points or 0.3% to 36,398.08, the Nasdaq slightly lost 24.65 points or 0.2% to 15,471.56 and the S&P 500 slipped 14.33 points or 0.3% to 4,778.73.
Major European markets also turned mixed that day. While the UK FTSE 100 index edged down 0.2%, the French CAC 40 index and the German DAX index both rose 0.2%.
Crude oil futures stabilized higher on Thursday, thanks to data showing increased demand for energy in the United States and a larger-than-expected decline in U.S. crude inventories last week. West Texas Intermediate crude oil futures for February delivery rose $ 0.43 or 0.6% to $ 76.99 per barrel, closing higher for the seventh straight session.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.