Australia Market extends losses to 2nd day

The Australian share market finished lower for second straight session on Tuesday, 12 October 2021, as market sentiment was weighed down in response to falls on Wall Street overnight as well as concerns over the higher crude oil prices and outlook for rising US interest rates.

At closing bell, the benchmark S&P/ASX200 fell 19.07 points, or 0.26%, to 7,280.73. The broader All Ordinaries index dropped 25.51 points, or 0.34%, to 7,575.58.

All ASX sectors closed lower, exception of Health Care and Consumer Staples. The IT sector was the worst performer, followed by the Energy sector.

The bottom performing stocks in this index were Ansell and Appen, down 4.6% and 3.9% respectively. The top performing stocks in this index were SIMS and Perseus Mining, up 4.6% and 4.3% respectively.

Westpac (WBC) shares lost 1.7% after announcing net profit & cash earnings in 2H21 will be reduced by $1.3bn due to notable items.

The Star Entertainment Group (SGR) lost further ground today to close 2.7% lower after slumping by 22.9% yesterday following allegations of misconduct by a number of media reports.

CURRENCY NEWS: The Australian dollar changed hands at $0.7355, above levels around $0.73 seen earlier in the trading week.

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