Australia Market ends lower ahead of RBA meeting

The Australian share market finished session lower on Monday, 31 January 2022, as risk sentiments subdued on caution ahead of Reserve Bank of Australia monetary policy meeting.

At closing bell, the benchmark S&P/ASX200 dropped 16.51 points, or 0.24%, to 6,971.63. The broader All Ordinaries index grew 1.95 points, or 0.03%, to 7,268.29.

Total 6 of 11 sectors ended higher despite the decline in the S&P/ASX 200 Index, with losses among financials, consumer staples, and materials stocks overshadowed gains in technology and energy stocks.

The top performing stocks in this index were ARB CORP and ZIP Co, up 7.9% and 7.5% respectively. The bottom performing stocks in this index were ANSELL LIMITED and NIB HOLDINGS LIMITED, down 14.34% and 6.03% respectively.

Shares of financials were lower, with the country's four largest lenders losing between 1.6% and 3.4%, ahead of Reserve Bank of Australia meeting on Tuesday.

Materials and resources shares went down, with BHP Group's falling 1.2% on the day its corporate unification with its London-listed entity became effective. Rio Tinto lost 1.9%.

Shares of Ansell plunged 14.3% after the medical glove maker slashed its full-year EPS outlook on supply chain disruptions.

ECONOMIC NEWS: Australia Private Sector Credit Up 0.8% On Month In December- Australia private sector credit was up 0.8% on month in December, the Reserve Bank of Australia said on Monday, easing from 0.9% in November. On a yearly basis, credit was up 7.2%, accelerating from 6.6% in the previous month. Housing credit was up 0.7% on month and 7.4% on year, while personal credit sank 0.8% on month. Broad money gained 1.5% on month and 9.5% on year.

CURRENCY NEWS: The Australian dollar was at $0.7023 after dropping in the previous trading week from above $0.714.

Powered by Capital Market - Live News