Aussie share market closes lower with broad losses

0 Comment(s)Print E-mail Xinhua, June 21, 2019
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SYDNEY, June 21 (Xinhua) -- The Australian share market finished lower on Friday, putting an end to a three day winning streak.

At the market close the benchmark S&P/ASX 200 was down 36.60 points or 0.55 percent at 6,650.80, while the broader All Ordinaries index was down 33.60 points or 0.50 percent at 6,734.30.

Losses intensified throughout the day with the biggest weight being healthcare which fell close to 2.5 percent.

Most sectors fell sharply with the exception of resource stock which rallied on the back of improved commodity prices including a surging gold value.

"Gold jumped 3.6 percent to 1396.90 U.S. dollars and has breached a five-year high," Commsec market analyst Steven Daghlian said.

"The prospect of lower U.S. interest rates and a softer U.S. dollar can make gold more attractive for some investors."

In the financial space, Australia's big banks sank with the Commonwealth Bank down (0.78 percent), ANZ down (1.18 percent), Westpac Bank down (0.60 percent) and the National Australia Bank down (0.41 percent).

Mining stocks rallied with Rio Tinto up (0.07 percent), Fortescue Metals up (1.72 percent), BHP up (0.44 percent) and goldminer Newcrest up (0.69 percent).

The country's oil and gas producers surged with Oil Search up (0.70 percent), Santos up (1.41 percent), and Woodside Petroleum up (2.37 percent).

Australia's largest supermarkets dropped with Coles down (2.97 percent), and Woolworths down (0.39 percent).

Meanwhile telecommunications giant Telstra fell (2.07 percent), the national carrier Qantas lifted (0.37 percent) and biomedical firm CSL plummeted (3.17 percent). Enditem

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