AGL 39.22 Decreased By ▼ -0.36 (-0.91%)
AIRLINK 129.75 Decreased By ▼ -1.47 (-1.12%)
BOP 6.78 Decreased By ▼ -0.03 (-0.44%)
CNERGY 4.66 Decreased By ▼ -0.05 (-1.06%)
DCL 8.50 Increased By ▲ 0.06 (0.71%)
DFML 41.00 Decreased By ▼ -0.47 (-1.13%)
DGKC 81.85 Decreased By ▼ -0.24 (-0.29%)
FCCL 32.70 Decreased By ▼ -0.40 (-1.21%)
FFBL 72.30 Decreased By ▼ -0.57 (-0.78%)
FFL 12.38 Increased By ▲ 0.12 (0.98%)
HUBC 110.75 Increased By ▲ 0.01 (0.01%)
HUMNL 14.15 Decreased By ▼ -0.36 (-2.48%)
KEL 5.17 Decreased By ▼ -0.02 (-0.39%)
KOSM 7.69 Increased By ▲ 0.08 (1.05%)
MLCF 38.87 Decreased By ▼ -0.03 (-0.08%)
NBP 63.50 Decreased By ▼ -0.51 (-0.8%)
OGDC 190.48 Decreased By ▼ -2.34 (-1.21%)
PAEL 25.60 Decreased By ▼ -0.08 (-0.31%)
PIBTL 7.45 Increased By ▲ 0.11 (1.5%)
PPL 151.70 Decreased By ▼ -2.37 (-1.54%)
PRL 25.57 Decreased By ▼ -0.26 (-1.01%)
PTC 17.59 Decreased By ▼ -0.22 (-1.24%)
SEARL 80.99 Decreased By ▼ -1.31 (-1.59%)
TELE 7.66 Decreased By ▼ -0.10 (-1.29%)
TOMCL 33.03 Decreased By ▼ -0.43 (-1.29%)
TPLP 8.43 Decreased By ▼ -0.06 (-0.71%)
TREET 17.06 Increased By ▲ 0.44 (2.65%)
TRG 57.15 Decreased By ▼ -0.25 (-0.44%)
UNITY 28.05 Increased By ▲ 0.54 (1.96%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 10,464 Decreased By -40.3 (-0.38%)
BR30 31,037 Decreased By -189.5 (-0.61%)
KSE100 97,668 Decreased By -411.4 (-0.42%)
KSE30 30,411 Decreased By -147.4 (-0.48%)
Markets

Australia shares slip as gold eases on US stimulus hopes

  • The number of issues on the ASX that advanced were 673 while 575 declined as a 1.2-to-1 ratio favoured advancers. There were 106 new highs and 43 new lows.
Published January 11, 2021

Australian shares edged lower on Monday as a slump in shares of gold miners offset upbeat sentiment around hopes of more fiscal stimulus from the United States and buoyant oil prices.

The S&P/ASX 200 index fell 0.2% to 6,742.8 points by 2335 GMT.

The benchmark had surged in tandem with its global peers last week on bets that a Democrat-controlled Senate would help US President-elect Joe Biden implement further stimulus in the near future.

Hopes of fiscal support, along with prospects for a smooth transition of power in Washington, have taken the shine off safe-haven assets such as gold.

Gold stocks slumped 4.6% and were set for their fourth straight session of decline.

Westgold Resources fell 7.52%, Dacian Gold eased 7.34%, and the country's biggest gold miner Newcrest gave up 4.4%.

Losses on the bourse were contained, however, as energy stocks jumped more than 3% to their highest since March 2020, with oil prices near a one-year high after Saudi Arabia's pledge last week to cut output.

Shares of Whitehaven Coal rose 2.9%, while Woodside Petroleum gained 2.8?%.

Domestic sentiment was also supported by the easing of a three-week lockdown on Syndey's Northern Beaches in New South Wales state.

The number of issues on the ASX that advanced were 673 while 575 declined as a 1.2-to-1 ratio favoured advancers. There were 106 new highs and 43 new lows.

New Zealand's benchmark S&P/NZX 50 index, which had scaled multiple record peaks last week, slid 1.54% to 13,349.6 points.

The Reserve Bank of New Zealand said on Sunday it was responding to a breach of one of its data systems, after a third-party file-sharing service it uses to share and store some sensitive information was illegally accessed.

Comments

Comments are closed.