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Asx Hits 11-Month Low Amid Geopolitical Tensions, Sector Performances Vary

Published Oct 23, 2023 19:28
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On Monday, geopolitical tensions led to a further decline in the S&P/ASX 200 index, which dropped 0.82% to 6844.10, marking an 11-month low. The Energy and Materials sectors were most affected, reporting losses of 3.00% and 2.34% respectively. In contrast, the Healthcare and Staples sectors outperformed others with gains of 1.53% and 0.73% respectively.

South32 (OTC:SOUHY) Ltd (ASX: S32), despite reporting weak production figures and a $US299m net debt increase due to industrial action and mine works, maintained its FY guidance. The company's shares fell by 2.97%.

Helloworld Travel Ltd (ASX: HLO) posted strong Q1 results with TTV up by 120% and EBITDA tripling to $16.8m compared to Q1 2023. However, the results failed to meet market expectations, resulting in a share price drop of 6.35%.

Centuria Office REIT (ASX: COF) and Centuria Industrial REIT (ASX: CIP) provided positive trading updates with high occupancy rates of 96.7% and 98.6% respectively and reaffirmed FFO and Distribution guidance for the year.

Viva Energy Group Ltd (ASX: VEA) reported mixed quarterly results due to falling refining margins from rising oil prices, causing its shares to drop by 2.85%.

Treasury Wine Estates (OTC:TSRYF) Ltd (ASX: TWE) saw its shares increase by 1.36% following news of potential changes in Chinese wine tariffs, expecting a review and possible removal within five months.

Syrah Resources Ltd's (ASX: SYR) shares surged by a staggering 41.51% following news of China’s plans to curb graphite exports.

In the commodities market, Iron Ore slid more than 3%, and Gold was marginally lower, affecting gold equities. Meanwhile, US Futures rose by around +0.25%. Asian markets struggled with Hong Kong closed, and the Nikkei and China indices were down by 0.51% and 0.8% respectively.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Asx Hits 11-Month Low Amid Geopolitical Tensions, Sector Performances Vary
 

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