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Australian Shares Finish the Week 1.2% Lower

Published 21/10/2022, 04:44 pm
© Reuters.
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By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 53.9 points or 0.8% to 6,676.8 during Friday’s trade, extending declines of 1% in the previous session and falling 1.2% for the week as risk sentiment faded across the Asian session, while both the US Dollar Index and 10-Year yields rose.

Among stocks, Utilities led declines, down 2.3% as Brambles Ltd (ASX:BXB) fell 1.6%, Reece Ltd (ASX:REH) lost 0.8%, Atlas Arteria (ASX:ALX) fell 1.7% and Transurban Group (ASX:TCL) dipped 1.6%.

Real estate retreated 1.7% as Mirvac Group (ASX:MGR) fell 1%, Charter Hall Group (ASX:CHC) dipped 2.3%, Goodman Group (ASX:GMG) lost 3.6%, Stockland Corporation Ltd (ASX:SGP) fell 1.2% and Scentre Group Ltd (ASX:SCG) declined 1.5%.

Financials finished 1.2% lower as Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 1.1%, Commonwealth Bank Of Australia (ASX:CBA) and National Australia Bank Ltd (ASX:NAB) lost 1.5% apiece, while Westpac Banking Corp (ASX:WBC) lost 0.8%

Meantime, Energy lifted 2%, with Whitehaven Coal Ltd (ASX:WHC) lifting 4.6% and New Hope Corporation Ltd (ASX:NHC) gaining 7.7%. Woodside Energy Ltd (ASX:WDS) added 2.6%, Beach Energy Ltd (ASX:BPT) gained 1.9%, Viva Energy Group Ltd (ASX:VEA) added 1.4% and Santos Ltd (ASX:STO) lifted 0.9%.

On the bond markets, Australia 10-Year rates were near fresh 8 year highs of 4.208% while United States 10-Year yields were at 14-year highs of 4.255%.

In New Zealand, the NZX 50 fell 49.7 points or 0.5% to 10,782.4.

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