Shh! ASX bears are having a party

July 20, 2021 - 4 days ago
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The Australian sharemarket sank further into negative territory for the second consecutive day and posted a fresh seven-week low of 7,205 as the COVID-19 Delta variant continues to rattle investors.

At the closing bell, the benchmark S&P/ASX 200 index finished -33.8 points lower, or -0.46%, to 7,252.2, while the All Ordinaries dropped -33.9 points, or -0.45%, to 7,525.8.

Most of the losses in the local market were focused on the Materials, Utilities, Energy, Industrials Telecommunication, Real Estate, and the Financials sectors.

The ASX tumbled heavily at the opening bell on Tuesday before losses were pared back later in the day.

Materials continue to weigh on the ASX 200 after falling -1.82%, with Monday’s losses down -2.44%.

Miners, Rio Tinto led the titans lower after plummeting -2.67%, to $124.42, while BHP Group dropped -2.5% to $49.24, and Fortescue Metals Group lost -0.98% to $25.17.

As for our oil and gas producers, Woodside Petroleum fell -1.93% to $21.90, while Oil Search surged +6.27%, at $3.90, Origin Energy lost +2.67%, to $4.37, Santos declined -4.98%, to $6.49, and Worley ended at a -1.79% loss at $10.95.

Gold miners struggled with Newcrest Mining falling -0.99%, to $26.11, Northern Star Resources fall -0.87%, to $10.20, and Evolution Mining Ltd dropped -2.1%, to $4.19.

The Financial sector was mixed with Australia and New Zealand Banking Group leading the “Fab Four” (banks) higher by +0.63%, to $27.32, while the National Australia Bank fell -0.7%, to $25.47, Commonwealth Bank slid -0.07%, to $97.61, Westpac Banking Corp lost -0.69%, to $24.52, and Macquarie Group tumbled -0.33% and settled to $153.21.

Technology stocks were mixed with ‘Buy-now-pay-later’ giant Afterpay climbing +1.64%, to $106.62, while accounting software provider Xero added +1.7%, to $141.00, Altium lost -1.76%, to $34.55, EML ended down -1.04% to $3.79, and Nearmap fell -2.78%, to $2.10.

Biotechnology giant CSL gained +1.32%, to $286.48, while ResMed lost -0.38%, to $34.39, Fisher & Paykel Healthcare rose +1.88%, to $29.82, while Cochlear fell -0.09%, to $241.11.

Travel stocks were weaker with Sydney Airport ending down -1.26% to $7.81, Flight Centre fell -1.31%, to $14.31, Webjet dropped -1.26%, at $4.69, Qantas shares lost -2.37%, to $4.54, and Regional Express rose +0.83%, to $1.215.

Meanwhile, our local currency, the Australian dollar, is currently buying US$0.7316 (as of writing).

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