Sign Up
..... Connect Australia with the world.
Categories

Posted: 2022-11-20 23:48:50

The Australian share market has ended marginally lower on Monday, after a week of trading that saw it virtually unchanged.

The ASX 200 opened flat and, by 1:30pm AEDT, it was down 0.1 per cent, to 7,143 points. It eventually closed down 0.2 per cent.

Bottom-performing stocks included Nanosonics (-12.2 per cent) after the company reportedly faced downgrades by major firms.

Meanwhile, Sayona lost 4.5 per cent.

Lithium miner Lake Resources was the morning's top performer, with a gain of 5.2 per cent on opening, after announcing it has resolved a "dispute" with business partner Lilac.

The two entities have been working together on Lake Resources's flagship project Kachi in Argentina. 

Kachi is seeking to deliver high-grade lithium to battery makers for use in all sorts of renewable energy, including storage and electric vehicles.

However, by mid-afternoon Lake Resources' surge had calmed down and it was only up just over 1 per cent.

It eventually finished down 0.9 per cent in line with the broader sell off.

Top performers on Monday included AGL which gained more than 4 per cent, along with Atlas Arteria and Whitehaven Coal.

Seven of the 11 sectors ended higher overall.

Utilities was the best performing sector, gaining 1.7 per cent, which is has done for the last five days.

Energy lost 0.8 per cent, materials was down 1.6 per cent, while IT had lost 1.7 per cent.

In the US, the tech sector has been battling concerns about post-pandemic redundancies.

Wall Street closed marginally higher on Friday (US time), with the Dow Jones ending up 0.6 per cent, the S&P 500 up 0.5 per cent, and the tech-heavy Nasdaq was flat. 

Meanwhile, the Australian dollar has been staying put.

Westpac noted in a briefing on Monday morning that the Australian currency had been gaining against the greenback after US inflation data came out.

But now it has been consolidating, it said.

"Its weekly range was 0.6634 to 0.6797, it's narrowest weekly range since late August," Westpac said.

The AUD is currently buying around 66 US cents.

View More
  • 0 Comment(s)
Captcha Challenge
Reload Image
Type in the verification code above