AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)

Australian shares fell on Monday, dragged down by heavyweight financials and gold stocks, as appetite for risk assets soured after Iran’s retaliatory attack on Israel over the weekend raised fears of a wider regional conflict.

The S&P/ASX 200 index declined 0.5% to 7,748.80 by 1225 GMT, extending its losses to a third session amid concerns over sticky US inflation and receding bets of early interest rate cuts.

Iran launched explosive drones and missiles at Israel late on Saturday in retaliation for a suspected Israeli attack on its consulate in Syria on April 1, a first direct attack on Israeli territory that has stoked fears of a wider regional conflict.

Australian shares tick higher as banks gain

Resilient US economic data, especially the hotter-than-expected March inflation reading, has forced investors to reset expectations of the timeline of rate cuts from the Federal Reserve this year.

In Sydney, rate-sensitive financials declined 0.9%, extending their decline to a fourth session.

The “Big Four” banks were down between 0.5% and 1%. Gold stocks inched 1.6% lower, heading for their worst session in more than three weeks.

Northern Star Resources and Evolution Mining retreated 1.6% and 0.6%, respectively.

Technology stocks tracked their Wall Street peers lower and were last down 1.5%. Block and Xero shed 2.7% and 1.7%, respectively.

Healthcare and real estate stocks lost 0.6% and 0.4%, respectively.

Mining and energy stocks advanced on strong underlying commodity prices, limiting the benchmark index’s losses. Mining giants BHP Group, Rio Tinto and Fortescue climbed 0.6%, 1.6% and 0.5%, respectively.

Oil and gas companies such as Woodside Energy and Santos gained between 0.2% and 0.4%, as oil prices were expected to rise after Iran’s attack on Israel.

New Zealand’s benchmark S&P/NZX 50 index fell 0.9% to 11,829.10.

Comments

Comments are closed.