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ASX 200 Closes 0.13% Lower, Magellan Drops 11.24%

Published 07/02/2022, 04:42 pm
Updated 07/02/2022, 04:44 pm
© Reuters.
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By Oliver Gray 

Investing.com - The S&P/ASX 200 closed lower on Monday, falling 9.40 points or 0.13% to 7,110.80 as losses in Real estate and Financials outpaced lifting Energy, Materials and Technology sectors.

Among gainers, Woodside Petroleum Ltd (ASX:WPL) lifted 1.87%, Santos Ltd (ASX:STO) added 1.61%, Viva Energy Group Ltd (ASX:VEA) gained 3.64% and Beach Energy Ltd (ASX:BPT) lifted 2.01%.

Novonix Ltd (ASX:NVX) added 1.82%, Megaport Ltd (ASX:MP1) added 0.61%, Altium Ltd (ASX:ALU) gained 0.17% and Wisetech Global Ltd (ASX:WTC) added 1.51%.

Rio Tinto Ltd (ASX:RIO) gained 0.07%, BHP Billiton Ltd (ASX:BHP) added 1.24% and Fortescue Metals Group Ltd (ASX:FMG) gained 0.89%.

Graincorp Ltd (ASX:GNC) surged 12.34% after reporting strong guidance.

Travel-related stocks also jumped following news that Australia will reopen its doors to foreign tourists from February 21. Qantas Airways Ltd (ASX:QAN) gained 4.62%, Flight Centre Ltd (ASX:FLT) added 7.8%, Webjet Ltd (ASX:WEB) gained 6.17%, Helloworld Ltd (ASX:HLO) popped 11.3% and Corporate Travel Managment Ltd (ASX:CTD) added 7%.

Among losses, Mirvac Group (ASX:MGR) lost 1.54%, Charter Hall Group (ASX:CHC) fell 2.51%, Goodman Group (ASX:GMG) lost 1.9%, Stockland Corporation Ltd (ASX:SGP) dipped 1.47% and Scentre Group Ltd (ASX:SCG) lost 1.01%.

Major bankers dragged, as Commonwealth Bank Of Australia (ASX:CBA) fell 0.11%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 1.92%, National Australia Bank Ltd (ASX:NAB) dipped 1.22%.

Magellan Financial Group Ltd (ASX:MFG) tumbled 11.24% after chairman Hamish Douglass announced he was taking a medical leave of absence.

On the bond markets, Australia 10-Year rates were at 1.985% while United States 10-Year yields were at 1.903%.

In New Zealand, the NZX 50 was down 0.45% to 12,280.

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