Australia Market slip 0.3%

The Australian market finished lower for the second straight session on Monday, 12 April 2021, with losses recorded across most sectors, due to mounting profit-taking after the federal government dropped its goal to inoculate nearly all of its population by the end of 2021 following advice that people under the age of 50 take Pfizer's COVID-19 vaccine over AstraZeneca's shot.

At closing bell, the benchmark S&P/ASX200 was down 21.22 points, or 0.3%, to 6,973.96. The broader All Ordinaries fell 27.01 points, or 0.37%, to 7,225.24.

Most of sectors fell, with property and materials the worst performers, down 1.24% and 1.23% respectively. Bucking the trend, healthcare and telecom gained, up by 0.7%, while financials were flat.

 

Travel-related stocks were hit by setbacks in vaccination efforts. Ticket booking and tour operating firm Webjet and carrier Qantas Airways slipped more than 2% each.

Healthcare stocks outperformed the benchmark to close 0.7% higher. CSL rose 0.9%, while ResMed gained 1.8%.

CURRENCY NEWS: The Australian dollar changed hands at $0.7613 following turbulent trade last week that saw it swinging from above $0.765 to around $0.759.

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