Australia Market falls 0.56%

Australia stock market finished session lower on Friday, 05 April 2024, on tracking negative lead from Wall Street overnight after hawkish comments from a trio of Fed policymakers as well as hike in crude oil prices on heightening tensions in the Middle East.

At closing bell, the benchmark S&P/ASX200 index declined by 44.07 points, or 0.56%, to 7,773.27. The broader All Ordinaries index sank 46.42 points, or 0.57%, to 8,026.04.

All 11 sectors ended lower along with the S&P/ASX 200 Index. Information Technology was the worst performing sector, gaining 1.41%, followed by materials (down 0.8%), consumer staples (down 0.7%), and telecommunication services (down 0.68%).

The top performing stocks in S&P/ASX200 index were REGIS RESOURCES and EVOLUTION MINING, up 3.27% and 2.36% respectively. The bottom performing stocks in S&P/ASX200 index were CHAMPION IRON and CAPRICORN METALS, down 7.42% and 5.46% respectively.

ECONOMIC NEWS: Australia February Trade Surplus A$7.280 Billion- Australia posted a seasonally adjusted merchandise trade surplus of A$7.280 billion in February, the Australian Bureau of Statistics said on Friday.Exports sank A$1.041 billion or 2.2% on month after rising a downwardly revised 1.5% in the previous month (originally 1.6%), driven by metal ores and minerals. Imports climbed A$1.736 million or 4.8% after gaining 1.3% a month earlier, driven by processed industrial supplies.

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