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Australian shares finish 0.8% lower as energy plunges

Published 08/12/2022, 04:38 pm
Updated 08/12/2022, 04:41 pm
© Reuters
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By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 53.9 points or 0.8% to 7,175.5 during Thursday’s trade, extending losses for the third consecutive session as lower crude oil prices hit major energy companies, while miners and banks also declined.

Among stocks, Santos Ltd (ASX:STO) lost 1.1%, Woodside Energy Ltd (ASX:WDS) fell 4.3%, South32 Ltd (ASX:S32) tanked 4.6% and Viva Energy Group Ltd (ASX:VEA) fell 1%.

Materials retreated 0.9% amid lower iron ore prices, with Rio Tinto Ltd (ASX:RIO) down 0.9%, BHP Group Ltd (ASX:BHP) falling 0.8%, Fortescue Metals Group Ltd (ASX:FMG) losing 1.8% and Champion Iron Ltd (ASX:CIA) down 1.6%.

Financials declined 1% with Macquarie Group Ltd (ASX:MQG) down 1.4%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 1.8%, Commonwealth Bank Of Australia (ASX:CBA) down 0.2%, National Australia Bank Ltd (ASX:NAB) losing 1.7% and Westpac Banking Corp (ASX:WBC) down 1.2%.

On the bond markets, Australia 10-Year rates were at 4-month lows of 3.374% while United States 10-Year yields were at 3.462%.

In new Zealand, the NZX 50 added 0.1% to 11,617.1.

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