Australia Stocks end mixed

Australia stock market finished session mixed after giving up early gains on Wednesday, 12 October 2022, as risk sentiments subdued amid lingering concerns about slowing global economic growth and the impact of rising interest rates on corporate profits.

At closing bell, the benchmark S&P/ASX200 index was up 2.56 points, or 0.04%, to 6,647.54. The broader All Ordinaries index declined 1.97 points, or 0.03%, to 6,842.33.

The top performing stocks in S&P/ASX200 index were BANK OF QUEENSLAND and CORONADO GLOBAL RESOURCES INC, up 11.13% and 8.01% respectively. The bottom performing stocks in S&P/ASX200 index were MIMERAL RESOURCES and NICKEL INDUSTRIES, down 3.65% and 3.18% respectively.

 

Financial stocks advanced, with the country's Big Four banks surging between 1.2% and 4%.

Energy stocks declined, as oil prices remained pressured by demand woes in China due to tightening Covid-19 curbs. Woodside Energy and Santos fell 1.9% and 2.5%, respectively.

Shares of materials and resources closed down, with BHP, Rio Tinto and Fortescue Metals shedding between 0.8% and 3%. Lake Resources jumped 2% after signing a lithium supply deal for a project in Argentina.

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