By Oliver Gray
Investing.com - The S&P/ASX 200 closed lower on Tuesday, dropping 18.00 points or 0.24% to 7,434.20, as financials dipped, while gold miners lifted as the precious metal held steady at 2-month highs.
Among stocks, National Australia Bank Ltd (ASX:NAB) fell 0.76% after reporting full-year results earlier in the session, while Commonwealth Bank Of Australia (ASX:CBA) lost 1.08%, Westpac Banking Corp (ASX:WBC) fell 1.05% and Australia and New Zealand Banking Group Ltd (ASX:ANZ) dipped 1.38%. Gold miners moved higher, with Northern Star Resources Ltd (ASX:NST) up 2.12%, Evolution Mining Ltd (ASX:EVN) gaining 1.55% and Chalice Mining surging 28.51% after this morning’s announcement regarding a mineral deposit in Western Australia. Energy companies also fell amid weaker crude oil prices, with Santos Ltd (ASX:STO) down 1.28%, Oil Search Ltd (ASX:OSH) falling 0.93%, Beach Energy Ltd (ASX:BPT) down 1.87% and Woodside Petroleum Ltd (ASX:WPL) falling 1.16%.
On the bond markets, Australia 10-Year yields were at 1.799% while United States 10-Year rates were at 1.478%.
Among data, The NAB business confidence index in Australia jumped to the highest reading since April as lockdowns ended in both New South Wales and Victoria and vaccination rate rose further. However, economists have warned of a build-up in inflation pressures leading to the Reserve Bank lifting the cash rate before the end of 2022.
In New Zealand, the NZX 50 was up 0.38% to 13091.