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Australian Shares Snap 3-day Rally Amid Local Earnings Results

Stock Markets Aug 18, 2022 17:00
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By Oliver Gray 

Investing.com - The S&P/ASX 200 dipped 14.9 points or 0.2% to 7,112.8 during Thursday’s deals, retreating for the first session in four as market participants digested a slew of local earnings results.

Among stocks, Information Technology led declines, falling 2.4% as Block Inc (ASX:SQ2) shed 6%, Appen Ltd (ASX:APX) lost 2.3%, Megaport Ltd (ASX:MP1) dipped 5.6% and Novonix Ltd (ASX:NVX) declined 4.7%.

Utilities were down 1.6% overall as Origin Energy Ltd (ASX:ORG) shed 2.6% after reporting a $1.43 billion loss. Mercury NZ Ltd (ASX:MCY) dipped 5.2% and AGL Energy Ltd (ASX:AGL) fell 1.5%.

Meantime, Blackmores Ltd (ASX:BKL) tanked 10.1% after the company warned about rising costs and supply chain issues.

On the bond markets Australia 10-Year rates were at 3.356% while United States 10-Yearyields were at 2.911%.

In New Zealand, the NZX 50 fell 0.3% to 11,814.3.

 

Australian Shares Snap 3-day Rally Amid Local Earnings Results
 

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