Australia Market ends lower

The Australian share market gave up early gains to finish session slightly lower on Wednesday, 09 June 2021, as investors opted to secure profits after data showed consumer confidence slipped for a second straight month in June. Meanwhile selloff was also fuelled on caution ahead of U.S. inflation data and the European Central Bank policy meeting.

At closing bell, the benchmark S&P/ASX200 declined 22.39 points, or 0.31%, up at 7,270.20. The broader All Ordinaries fell 20.35 points, or 0.27%, to 7,521.99.

Banks ended broadly lower, with National Australia Bank closing at a nearly three-week low. The rest of the "Big Four" banks also closed in the red.

 

Shares of major miners were a bright spot, with BHP, Fortescue Metals Group and Rio Tinto rose in-between 0.5% to 1%. Mining services provider Perenti Global lost 2.2% after it won a US$496m contract from Sandfire Resources.

Australia's biggest supermarket chain Woolworths shed 1.9%, after reports that an independent review found failings by the firm over its plan to build a liquor store near alcohol-free communities in Darwin.

ECONOMIC NEWS: Australia Westpac Consumer Confidence Retreats In June - Australia consumer confidence ebbed in June with an index score of 107.2, the latest survey from Westpac Bank and the Melbourne Institute showed on Wednesday. That's down 5.2% from the May reading, which saw the index slip 4.8% to 113.1. This two-month decline can be mainly attributed to a combination of a statistical correction following a very strong surge in April to an 11-year high, the bank said - as well as some disappointment around the budget given high expectations leading into the announcement.

CURRENCY NEWS: The Australian dollar changed hands at $0.7752 following an earlier low of $0.773.

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