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ASX 200 Finishes the Week 4.2% Lower, Real Estate Falls 2.9%

Stock Markets Jun 10, 2022 16:52
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By Oliver Gray 

Investing.com - The S&P/ASX 200 lost 87.70 points or 1.25% to 6,932 during Friday’s session, extending losses of 1.4% yesterday and finishing the week 4.2% lower as surging bond yields and persistent inflation fears sapped risk appetite.

Among stocks, real estate companies were the worst hit, falling 2.9% overall as Mirvac Group (ASX:MGR) fell 1.4%, Charter Hall Group (ASX:CHC) dipped 2.7%, Goodman Group (ASX:GMG) lost 2.8% and Scentre Group Ltd (ASX:SCG) fell 3.3%.

Energy companies were 1.6% lower collectively, with Woodside Energy Ltd (ASX:WDS) down 1.6%, Santos Ltd (ASX:STO) falling 1.5%, Beach Energy Ltd (ASX:BPT) down 1.1% and Viva Energy Group Ltd (ASX:VEA) falling 2%.

Financials finished 1.6% lower as Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 1.2%, National Australia Bank Ltd (ASX:NAB) dipped 0.7%, Westpac Banking Corp (ASX:WBC) fell 1.5%, Commonwealth Bank Of Australia (ASX:CBA) eased 1.2% while Macquarie Group Ltd (ASX:MQG) dipped 3.5%.

Materials declined 1.1% as Rio Tinto Ltd (ASX:RIO) retreated 1.3%, Fortescue Metals Group Ltd (ASX:FMG) lost 0.5%, Champion Iron Ltd (ASX:CIA) dipped 2.4% while Lynas Rare Earths Ltd (ASX:LYC) dipped 5.7% and Piedmont Lithium Ltd (ASX:PLL) lost 5.1%.

On the bond markets, Australia 10-Year yields were at 3.676%, the highest level since September 2014, while United States 10-Year rates were at 3.049%.

In New Zealand, the NZX 50 lost 0.7% to 11,136.

ASX 200 Finishes the Week 4.2% Lower, Real Estate Falls 2.9%
 

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