Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

ASX 200 Finishes 0.5% Lower, Regis Drops 14%

Stock MarketsJan 24, 2022 16:51
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 finished Monday’s session lower, down 36.30 points or 0.51% to 7,139.50, extending last week’s declines of 2.9% and trading at 7-month lows as investors remained cautious amid fears of surging inflation and an aggressive policy tightening forecast at the U.S. Federal Reserve.

Among stocks, Technology companies saw the largest selloff, down 1.73% as Novonix Ltd (ASX:NVX) dropped 6.68% and Brainchip Holdings Ltd (ASX:BRN) lost 5.7%, while Xero Ltd (ASX:XRO) fell 2.38%, Computershare Ltd. (ASX:CPU) lost 2.38% and Appen Ltd (ASX:APX) dragged 2.37%.

BNPL names declined as Zip Co Ltd (ASX:Z1P) lost 1.5% and Afterpay Touch Group Ltd (ASX:APT) dipped 2.18%

Materials also fell as Rio Tinto Ltd (ASX:RIO) dipped 0.7%, BHP Billiton Ltd (ASX:BHP) eased 0.22%, Fortescue Metals Group Ltd (ASX:FMG) shed 2.01%, Pilbara Minerals Ltd (ASX:PLS) lost 2.53%, Arizona Lithium Ltd (ASX:AZL) fell 3.03%, Lake Resources NL (ASX:LKE) dropped 5.32%, Avz Minerals Ltd (ASX:AVZ) fell 2.01%, Lynas Rare Earths Ltd (ASX:LYC) shed 4.65% and Magnis Resources Ltd (ASX:MNS) lost 6.25%.

Airline stocks suffered losses as Qantas Airways Ltd (ASX:QAN) lost 1.43%, Flight Centre Ltd (ASX:FLT) dipped 1.49%, Webjet Ltd (ASX:WEB) lost 2.95% and Sydney Airport Holdings Ltd (ASX:SYD) eased 0.12%.

South32 Ltd (ASX:S32) dropped 3.67% after a quarterly update revealed declines in coal, aluminium, manganese, silver, and lead production.

Regis Resources Ltd (ASX:RRL) fell 14% after slashing production guidance due to an 800 tonne rockfall in its Rosemount main pit in Western Australia’s Goldfields region.

Financials were also lower as Macquarie Group Ltd (ASX:MQG) eased 0.35%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 1.21%, National Australia Bank Ltd (ASX:NAB) fell 0.53%, Westpac Banking Corp (ASX:WBC) lost 0.86%, while Commonwealth Bank Of Australia (ASX:CBA) added 0.07%.

Real estate stocks proved to be a bright spot, as Charter Hall Group (ASX:CHC) added 1.2%, Goodman Group (ASX:GMG) gained 3.54%, Stockland Corporation Ltd (ASX:SGP) added 0.5% and Lend Lease Group (ASX:LLC) lifted 1.87%.

Wireless broadband provider Uniti Group Inc (NASDAQ:UNIT) also popped 9.28% after revealing that the company has received multiple take-over offers in recent months.

On the bond markets, Australia 10-Year yields were higher at 1.924%, while United States 10-Year rates were at 1.776%.

In New Zealand, the NZX 50 dropped 1.47% to 12,166, trading 11% below its last record high set in January 2021.

ASX 200 Finishes 0.5% Lower, Regis Drops 14%
 

Related Articles

Wall Street ends mixed, Tesla falls
Wall Street ends mixed, Tesla falls By Reuters - May 21, 2022

By Amruta Khandekar and Noel Randewich (Reuters) - Wall Street ended mixed on Friday after a volatile session that saw Tesla (NASDAQ:TSLA) slump and other growth stocks also lose...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email