Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Australia shares unchanged as miners, energy stocks offset gains in banks

Published 23/04/2021, 11:14 am
Updated 23/04/2021, 11:18 am
© Reuters.

April 23 (Reuters) - Australian shares were little changed on Friday, looking past a weak finish overnight on Wall Street, as selling in local miners and energy firms offset gains in banks and healthcare companies.

The S&P/ASX 200 index .AXJO was largely unchanged at 7,053.90 by 0050 GMT. It was on track to lose about 0.2% for the week, snapping a four-week winning streak.

All three major U.S. indexes finished about 1% lower on Thursday following reports that President Joe Biden planned to double the capital gains tax and raise income taxes on the wealthy. .N Japan's Nikkei .N225 declined 1.36%, while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.4% higher overnight. .T MKTS/GLOB

In Australia, miners .AXMM were the biggest drags on the benchmark, losing 1%, with mining giants BHP Group BHP.AX and Rio Tinto (LON:RIO) RIO.AX falling about 1.8%.

Energy firms .AXEJ were down 0.6%, with Oil Search OSH.AX leading the losses as it shed 1.6% on slashing its 2021 investment expense. stocks .AXFJ edged higher. Australia and New Zealand Banking Group ANZ.AX and National Australia Bank NAB.AX added 0.4% and 0.6%, respectively.

Troubled wealth manager AMP AMP.AX jumped to the top of the index, advancing 7.6%, after it announced plans of a spin off and re-branding of its unit AMP Capital's private markets business, ending talks with Ares Management ARES.N to sell the business. New Zealand, the benchmark S&P/NZX 50 index .NZ50 swung between positive and negative territory, and was little changed as of 0015 GMT. It was on track to lose 0.8% for the week.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The top percentage gainer on the benchmark was Mercury NZ Ltd MCY.NZ , adding 3.28%, while top loser was Vista Group International VGL.NZ , slipping 2.6%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.