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Australian Shares Finish Flat, Energy Leads Gains While Real Estate Dips

Published 06/10/2022, 04:35 pm
Updated 06/10/2022, 04:38 pm
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By Oliver Gray 

Investing.com - The S&P/ASX 200 finished Thursday’s session flat at 6,817.5 on Thursday, following two sessions of consecutive gains and closing at 2-week highs, lifted by the energy sector after OPEC+ agreed to slash output to combat falling oil prices.

Among stocks, Energy finished 2.2% higher, with Woodside Energy Ltd (ASX:WDS) up 2.6%, Santos Ltd (ASX:STO) adding 1.8% and Beach Energy Ltd (ASX:BPT) up 0.3%.

Real estate companies retreated 0.8% amid firming bond yields, with Charter Hall Group (ASX:CHC) down 1.3%, Goodman Group (ASX:GMG) falling 2.5% and Scentre Group Ltd (ASX:SCG) dipping 0.8%.

Consumer Staples retreated 0.7% as Woolworths Ltd (ASX:WOW) lost 0.8%, Graincorp Ltd (ASX:GNC) fell 0.5%, Coles Group Ltd (ASX:COL) dipped 0.8% and Endeavour Group Ltd (ASX:EDV) fell 2.2%.

Meantime, Magellan Financial Group Ltd (ASX:MFG) shed 8.4% after it the company revealed a drop in its funds under management in September.

On the bond markets, Australia 10-Year yields were at 3.779% while United States 10-Year yields were at 3.741%.

In New Zealand, the NZX 50 fell 0.5% to 11,125.2.

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