Australian Shares Reverse Gains to Close 0.2% Lower
Investing.com
Published Jun 16, 2022 16:39
By Oliver Gray
Investing.com - The S&P/ASX 200 fell 9.9 points or 0.2% to 6,591.1 during Thursday’s deals, reversing earlier gains to extend declines for the 5th consecutive session and closing at fresh 16-month lows as a modest relief rally faded after the US Federal Reserve overnight announced its biggest interest rate hike since 1994.
Among stocks, Utilities fell 1.6% as Origin Energy Ltd (ASX:ORG) dipped 0.7%, APA Group (ASX:APA) lost 1.3%, Genesis Energy Ltd (ASX:GNE) fell 3.1% and AGL Energy Ltd (ASX:AGL) lost 3.7%.
Industrials were 1.2% lower with Auckland International Airport Ltd (ASX:AIA) down 2.6%, Brambles Ltd (ASX:BXB) falling 1.4% and Transurban Group (ASX:TCL) down 1.6%.
Health Care retreated 0.9% as CSL Ltd (ASX:CSL) lost 0.9%, Ramsay Health Care Ltd (ASX:RHC) fell 1.4%, Resmed Inc (ASX:RMD) lost 0.6% and Cochlear Ltd (ASX:COH) dipped 2.9%.
Real estate companies were up 1.5%, with Mirvac Group (ASX:MGR) adding 1.5%, Charter Hall Group (ASX:CHC) up 2.4%, Goodman Group (ASX:GMG) adding 2.4% and Scentre Group Ltd (ASX:SCG) up 0.8%.
Bubs Australia Ltd (ASX:BUB) added 7.1% after announcing that a second planeload of its infant formula would be airlifted on Thursday for distribution in the USA, amid growing shortages.
On the bond markets, Australia 10-Year yields were lower at 3.997% while United States 10-Year rates were at 3.32%.
In New Zealand, the NZX 50 was 0.1% higher at 10,646.6.
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Written By: Investing.com
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