By Oliver Gray
Investing.com - The S&P/ASX 200 fell 49.3 points or 0.7% to 7,105.9 during Thursday’s trading session, erasing yesterday’s advance of 0.4% as investors continued to remain cautious amid the prospect of slowing global growth.
Among stocks, Consumer Staples led the broader market lower, down 2.5% with Woolworths Ltd (ASX:WOW) falling 2.6%, Graincorp Ltd (ASX:GNC) down 3.5%, Coles Group Ltd (ASX:COL) falling 2.2% and Endeavour Group Ltd (ASX:EDV) shedding 6%.
Utilities were finished 1.2% lower as Mercury NZ Ltd (ASX:MCY) fell 2.8%, Origin Energy Ltd (ASX:ORG) lost 1.3% and APA Group (ASX:APA) declined 1.6%.
Materials fell 1% collectively with Rio Tinto Ltd (ASX:RIO) down 1.1%, BHP Billiton Ltd (ASX:BHP) falling 0.9%, Fortescue Metals Group Ltd (ASX:FMG) dipping 3.7% and Champion Iron Ltd (ASX:CIA) down 2.3%.
Financials dipped 0.4% with Macquarie Group Ltd (ASX:MQG) down 0.3%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 0.4%, National Australia Bank Ltd (ASX:NAB) down 0.3% and Commonwealth Bank Of Australia (ASX:CBA) falling 0.7%.
Information Technology bucked the trend, lifting 1% overall as Appen Ltd (ASX:APX) popped 29.2% and was placed in a trading halt after receiving a $1.2 billion takeover offer from Canadian business Telus International.
On the bond markets, Australia 10-Year yields were at 3.2% while United States 10-Year rates were at 2.729%.
In New Zealand, the NZX 50 added 0.3% to 11,204.