Australia Market extends losses

The Australian share market finished lower for the second straight session on Tuesday, 27 April 2021, as investors continued to offload risk assets on caution ahead of a Fed monetary policy meeting ending Wednesday and release of Australia's consumer price index for the first quarter later in the week.

At closing bell, the benchmark S&P/ASX200 declined 11.73 points, or 0.17%, to 7,033.83. The broader All Ordinaries fell 12.29 points, or 0.17%, to 7,295.54.

ASX sectors were mixed, with IT weighed on the most, down 2.5%, followed by industrials, which fell 1%, and health care, down 0.8%. Materials gained 0.7%, while utilities rallied 0.2%.

 

Nickel Mines (NIC) shares dropped 12.1% with quarterly nickel production of 10,067.5t nickel, down 12.7% from the record 11,527t in the December quarter. Nickel sold was also down 10% with sales falling 13% to US$138.2m. Earnings (EBITDA) dropped 29% to US$50.7m.

Fashion retailer Universal Store (UNI) was 8.8% higher as Q3 FY21 sales grew 39.6% on the year before, aided by soft March sales a year ago. Like-for-like sales grew 27.5% in-store, while online sales surged 148%.

CURRENCY NEWS: The Australian dollar changed hands at $0.7771, following an earlier high of $0.7803.

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