Australia Stocks end softer

The Australian share market finished session down on Wednesday, 08 September 2021, dragged down by materials and resources after most commodity prices took a hit on demand crunch. At closing bell, the benchmark S&P/ASX200 declined 18.33 points, or 0.24%, to 7,512.01. The broader All Ordinaries fell 18.82 points, or 0.24%, to 7,807.54.

Sectors ended mixed, with 7 of 11 sectors were lower along with the S&P/ASX 200 Index. Real Estate was the worst performing sector, falling 1.27%, followed by consumer staples (down 1.23%), materials (down 1.04%), and information technology (down 0.92%), while financial was the best performing sector, gaining 0.61%.

The bottom performing stocks in S&P/ASX200 index were ST BARBARA and EAGERS AUTOMOTIVE, down 6.09% and 5.94% respectively, while the top performing stocks includedWASHINGTON H SOUL PATTINSON and MACQUARIE GROUP, up 5.6% and 4.7%, respectively.

Shares of miners declined as copper prices hit their lowest level in five months, with BHP Billiton down 1 percent and Rio Tinto drop 0.5%. Gold miners Newcrest Mining, Evolution Mining and Northern Star Resources lost 3-5 percent after gold retreated over 1.5 percent, hit by a buoyant dollar and higher yields.

CURRENCY NEWS: The Australian dollar changed hands at $0.7351 after yesterday's decline from levels above $0.744.

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