Australia Market extends losses

The Australian share market finished lacklustre session lower on Friday, 18 September 2020, registering second day of consecutive decline, as losses in financials and industrial stocks offset gains in mining stocks. Adding to the woes, the state of Victoria on Friday reported its biggest daily rise in COVID-19 infections in more than a week.

At closing bell, the benchmark S&P/ASX200 index declined 18.71 points, or 0.32%, to 5,864.50. The broader All Ordinaries was down 1.58 points, or 0.19%, to 6,057.63.

Shares of banks and financials ended lower. Among the banks, Commonwealth Bank lost 1% and Westpac shed 1%.

Shares of materials and resources closed mostly higher. BHP gained 1.3%, Rio Tinto added 1.3% and Fortescue Metals Group rose 1%. The country's biggest independent coal miner Whitehaven Coal advanced 2.3% as the company urged its shareholders to reject a resolution on climate change.

 

CURRENCY NEWS: The Australian dollar changed hands at $0.7296 after touching an earlier high of $0.7311.

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