You are here: Home » News-CM » International » Market Report
Business Standard

Australia Market ends mixed

Capital Market 

The Australian share market finished session mixed after wiping out early gains on Tuesday, 29 September 2020, as investors elected to closed positions at the end of the month with investors seemingly distracted by the looming Biden-Trump debate showdown. At closing bell, the benchmark S&P/ASX200 index declined 0.26 points, or 0.00%, to 5,952.06. The broader All Ordinaries added 6.63 points, or 0.11%, to 6,141.53.

Banks and financials declined, with all Big Four lenders dived in red. Commonwealth Bank of Australia and Westpac Banking Corp shed 0.7% and 1.3%, respectively.

Bank of Queensland was down 7.2% after the Brisbane-based lender warned of a pre-tax loan impairment expense of A$175 million in its annual results, mostly due to the COVID-19 impact.

Shares of materials and resources declined, as political tensions between Australia and the world's second-biggest economy weighed. Global miners BHP Group and Rio Tinto declined 0.7% and 0.8%.

Tech stocks were the best performers today, surging by 2.4%, following the outperformance of American technology ompanies overnight. Afterpay (APT) rose by 2.5%. Appen climbed 3.6%, Altium gained 3.3%, Xero climbed 3%, and Wisetech Global rose 3.4%.

Travel stocks also did well amid a continued improvement in the nation's coronavirus numbers. Qantas climbed 2.2%, Sydney Airport lifted 2.2%, and Regional Express rose 0.4%.

CURRENCY NEWS: The Australian dollar changed hands at $0.7095 following levels below $0.705 seen yesterday.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 29 2020. 16:59 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU