Australia Market ends marginally lower

The Australian share market finished choppy session little changed on Tuesday, 19 October 2021, with miners were the main weight on the market while the Information technology shares fared best. At closing bell, the benchmark S&P/ASX200 fell 6.22 points, or 0.08%, to 7,374.85. The broader All Ordinaries index added 0.51 point, or 0.01%, to 7,690.17.

Shares of materials and resources declined, with BHP down 2% after the world's largest miner posted a near 5% drop in quarterly iron ore output due to maintenance work at its Jimblebar mine and a shortage of rail labour caused by Covid-19 border restrictions. Rio Tinto and Fortescue shed 3.3% and 1.2%, respectively.

Tech stocks advanced on tracking overnight gains on US peers, with Afterpay up 2.7%.

Shares of Tabcorp tumbled 2.7% after gaming giant announced plans to split its businesses by mid-2022, with one-off cash costs between A$225 million and A$275 million.

ECONOMIC NEWS: Minutes from the Reserve Bank of Australia's October monetary policy meeting released Tuesday showed the RBA expecting the Australian economy to return to growth in the December quarter and to its pre-Delta path in the second half of 2022.

CURRENCY NEWS: The Australian dollar changed hands at $0.7462, above levels below $0.74 seen yesterday.

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