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ASX 200 adds 0.1%, Star Entertainment tumbles after job cuts

Published 19/04/2023, 10:39 am
Updated 19/04/2023, 10:42 am
© Reuters.

By Oliver Gray - The S&P/ASX 200 added just 5.6 points or 0.1% to 7,365.8 after the first 40-minutes of Wednesday's session, trading just below 9-week highs as materials lifted while real estate companies led declines.

ASX 200 Futures were also pointing 0.1% higher.

Among stocks, Rio Tinto Ltd (ASX:RIO) added 1.6%, BHP Group Ltd (ASX:BHP) gained 1.8%, Fortescue Metals Group Ltd (ASX:FMG) added 2.4% and Champion Iron Ltd (ASX:CIA) lifted 1.6%.

Goodman Group (ASX:GMG) fell 1%, Charter Hall Group (ASX:CHC) lost 1.6%, Stockland Corporation Ltd (ASX:SGP) was down 0.5% and Mirvac Group (ASX:MGR) dipped 1.3%.

Information Technology was down 0.1% collectively, with Block Inc (ASX:SQ2) falling 1.3% and Brainchip Holdings Ltd (ASX:BRN) down 1.1%.

Star Entertainment Group Ltd (ASX:SGR) also shed 11% after the company announced job cuts and cut its earnings forecast amid rapid deterioration of its operating conditions.

On the bond markets, Australia 10-Year rates were at 5-week highs of 3.518%

In New Zealand, the NZX 50 fell 0.2% to 11.856.2.

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