Australia Market falls from 14-month peak

The Australian market declined from 14-month peak on Tuesday, 20 April 2021, with the benchmark S&P/ASX200 index settling lower, as investors opted to book recent profit on tracking soft lead from the Wall Street overnight and weakness in other regional markets. At closing bell, the benchmark S&P/ASX200 fell 47.87 points, or 0.68%, to 7,017.77. The broader All Ordinaries dropped 45.91 points, or 0.63%, to 7,282.13.

The information technology sector was under pressure on tracking weak lead from US peers. Xero dropped 1.4%, Altium dropped 5.2%, Afterpay fell 0.8% despite announcing it was exploring a U.S. listing and reported a more than two-fold jump in its third-quarter sales volumes.

 

Annuities provider Challenger shares ended 15.8% lower after announcing to expect full-year profit at the lower end of guidance. Healthcare giant CSL fell 1.6%, the big four banks declined, and Lynas Rare Earths dropped 8.3% after quarterly sales revenue dropped.

CURRENCY NEWS: The Australian dollar changed hands at $0.7814, having climbed from below $0.774 yesterday.

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