Australia Stocks end softer

The Australian equity market closed marginally lower on Thursday, 13 June 2019, as risk sentiments subdued on taking a negative lead from Wall Street overnight amid uncertainty over an intractable US-China trade dispute and pullback in commodity prices. At closing bell, the benchmark S&P/ASX200 index declined 1.34 points, or 0.02%, at 6,542.40 points, while the broader All Ordinaries shed 9.77 points, or 0.15%, at 6,619.10.

Energy stocks fell as crude oil prices tumbled 4% overnight after crude inventories rose amid concerns of dimming outlook for global oil. Oil & gas explorer Woodside Petroleum fell as much as 2.2%, while Oil Search and Beach Energy lost 2.4% and 5.2%, respectively.

 

Mining stocks declined, as base metal and iron ore prices retreated. Mining giants BHP Group fell 0.5% and Rio Tinto lost 0.6%, while South32 declined 0.9%.

CURRENCY NEWS: The Australian dollar was lower against the U.S. dollar on Wednesday. The Australian dollar traded at $0.6906 after slipping from the $0.696 handle yesterday.

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