Australia Market ends lower

Australia stock market finished session slightly lower on Monday, 12 February 2024, with losses in healthcare, energy, and materials shares overshadowed gains elsewhere.

At closing bell, the benchmark S&P/ASX200 index declined 29.92 points, or 0.39%, to 7,614.92. The broader All Ordinaries index dropped 24.35 points, or 0.31%, to 7,860.34.

Total 6 of 11 sectors ended higher despite the decline in the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.02%, followed by consumer discretionary (up 0.58%). Healthcare was the worst performing sector, falling 3.2%, followed by energy (down 1%).

The top performing stocks in S&P/ASX200 index were JB-HI-FI and LOVISA HOLDINGS, up 7.13% and 4.76% respectively. The bottom performing stocks in S&P/ASX200 index were LIONTOWN RESOURCES and FLETCHER BUILDING, down 8.07% and 6.09% respectively.

 

Shares of healthcare companies were among the weakest on the local bourse, with CSL stumbling nearly 5% after pharmaceutical giant said a phase 3 trial for a heart attack drug had failed to meet its primary endpoint for efficacy. Ramsay Health Care (down 0.6%), Resmed (down 1.4%) and Fisher & Paykel Healthcare (down 2.7%) were also weaker

Shares of miners and energy companies were also among the weakest performers, with heavyweight iron ore miner BHP shedding 0.5%, gold miner Newmont losing 1.2% and Woodside dropping 2.2%.

Shares of information technology companies were among the strongest on the local bourse, with Altium (up 1.6%) and TechnologyOne (up 3%) leading gains in the sector.

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