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Australia shares fall as banks, tech stocks weigh

Published 27/04/2021, 10:57 am
Updated 27/04/2021, 11:00 am
© Reuters.

By Arundhati Dutta

April 27 (Reuters) - Australian shares fell on Tuesday, with losses in technology and financial stocks outweighing gains in the mining sector as iron ore prices and gold prices firmed.

The S&P/ASX 200 index .AXJO fell 0.27% to 7,026.5 points by 0027 GMT.

The top percentage gainer on the benchmark was Bingo Industries Ltd BIN.AX , up 6.7%, after the waste management firm agreed to be bought by Macquarie Group MQG.AX for A$2.3 billion ($1.79 billion).

Bingo shares were also the most heavily traded shares by volume.

Shares of Australian betting firm Tabcorp Holdings TAH.AX rose nearly 4% after UK's Entain ENT.L proposed a $2.7 billion buyout of its wagering and media arm. top percentage losers on the benchmark were Mesoblast Ltd MSB.AX , down 3.19%, followed by Adbri Ltd ABC.AX , losing 2.69%.

Among sectors, financial stocks .AXFJ fell 0.44%, led by Zip Co Ltd Z1P.AX , down 2.22%, and AMP Ltd AMP.AX , losing 1.75%.

Technology stocks .AXIJ fell 0.12%, led by Appen Ltd APX.AX , down 0.97%, and Afterpay Ltd APT.AX , losing 0.47%.

Mining stocks .AXMM rose 0.43%, led by Piedmont Lithium Ltd PLL.AX , up 6.82%, while gold stocks .AXGD rose 0.21%.

The energy index .AXEJ fell 0.23​,% led by Origin Energy Ltd ORG.AX , down 1.2%, and Beach Energy Ltd BPT.AX , losing 0.91%

In other markets, Japan's Nikkei .N225 was down 0.04% at 29114.76.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 fell 0.11% to 12,636.7. The top percentage losers were A2 Milk Company Ltd ATM.NZ , down 3.8%, and Fletcher Building Ltd FBU.NZ , losing 1.51%.

($1 = 1.2824 Australian dollars)

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