Australian Shares Retreat 1.1% as Info Tech Suffers By Investing.com

Australian Shares Retreat 1.1% as Info Tech Suffers

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By Oliver Gray

Investing.com - The S&P/ASX 200 fell 1.1% to 7,158.4 after the first hour of Thursday’s trade, reversing gains of 0.3% in the previous session as investors tracked a lower close on Wall Street overnight as persistently high inflation pressures soured risk sentiment.

ASX 200 Futures were pointing 0.3% lower.

Among stocks, Information Technology fell 2.4% with Block Inc (ASX:SQ2) fell 6.2%, Appen Ltd (ASX:APX) lost 0.6%, Megaport Ltd (ASX:MP1) fell 3.3% and Xero Ltd (ASX:XRO) dipped 2.7%.

Energy bucked the trend, adding 2.6% as Woodside Energy Ltd (ASX:WDS) added 4.9% while Santos Ltd (ASX:STO) and South32 Ltd (ASX:S32) retreated 1.7% and 0.8% respectively.

Financials fell 1.4% as Macquarie Group Ltd (ASX:MQG) lost 2.7%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 1%, National Australia Bank Ltd (ASX:NAB) dipped 0.9%, Westpac Banking Corp (ASX:WBC) dropped 0.8% and Commonwealth Bank Of Australia (ASX:CBA) eased 1.5%.

On the bond markets, Australia 10-Year yields were at 3.486% while United States 10-Year rates were at 2.913%.

In New Zealand, the NZX 50 fell 0.6% to 11,303.3.

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