By Oliver Gray
Investing.com - The S&P/ASX 200 finished Thursday’s session slightly lower, falling 20.90 points or 0.28% to 7,384.50 and snapping 4 days of consecutive gains as a broad-based rally eased, while major financial stocks were bid as long term bond yields moved higher.
Among stocks, technology names closed mixed, with Appen Ltd (ASX:APX), Technology One Ltd (ASX:TNE) and Nextdc Ltd (ASX:NXT) adding 3.18%, 0.65% and 0.99% respectively, while Xero Ltd (ASX:XRO) dropped 3.21% and Wisetech Global Ltd (ASX:WTC) lost 2.99%.
Banking heavyweights were in the green, with Commonwealth Bank Of Australia (ASX:CBA) up 0.43%, National Australia Bank Ltd (ASX:NAB) adding 0.35% and Westpac Banking Corp (ASX:WBC) gaining 0.33%
Major miners were also mixed, with Rio Tinto Ltd (ASX:RIO) and BHP Billiton Ltd (ASX:BHP) down 0.84% and 1.13% respectively, while Fortescue Metals Group Ltd (ASX:FMG) added 1.47%.
Meantime, Magellan Financial Group Ltd (ASX:MFG) plummeted 4.91% amid renewed concerns about the company, while the Gina Rinehart-backed Vulcan Energy Resources Ltd (ASX:VUL) jumped 14.3% after announcing an off take agreement for its zero carbon lithium with Volkswagen (DE:VOWG_p).
On the bond markets, Australia 10-Year yields were at 1.688% while United States 10-Year rates were at 1.513%.
In New Zealand, the NZX 50 lost 0.81% to 12,772.