By Oliver Gray
Investing.com - The S&P/ASX 200 fell 53.80 points or 0.76% to 7,057.00 during Monday’s midday deals, following gains of 1.6% over the last week as surging commodity prices boosted energy and mining stocks amid Russia’s ongoing invasion of Ukraine.
ASX 200 Futures were down 1.05%.
Among stocks, Energy companies posted the largest gains, up 4.55% as Crude Oil prices surged to fresh 13-year highs. Woodside Petroleum Ltd (ASX:WPL) added 7.16%, Santos Ltd (ASX:STO) gained 5.28%, Beach Energy Ltd (ASX:BPT) lifted 3.42% while Viva Energy Group Ltd (ASX:VEA) lost 2.02%.
Materials were up 0.93%, with Rio Tinto Ltd (ASX:RIO) adding 0.11%, BHP Billiton Ltd (ASX:BHP) up 0.8%, Fortescue Metals Group Ltd (ASX:FMG) gaining 1.2%, Champion Iron Ltd (ASX:CIA) up 0.88% and Lake Resources NL (ASX:LKE) lifting 0.2%.
theTechnology sector was hit, down 3.65% as Appen Ltd (ASX:APX) fell 3.24%, Megaport Ltd (ASX:MP1) lost 3.66%, Novonix Ltd (ASX:NVX) lost 4.41%, Brainchip Holdings Ltd (ASX:BRN) shed 4.95%, Altium Ltd (ASX:ALU) lost 3.14%, Xero Ltd (ASX:XRO) fell 1.14% and Wisetech Global Ltd (ASX:WTC) declined 2.24%. Meantime, Block Inc (ASX:SQ2) declined 10.3% and Zip Co Ltd (ASX:Z1P) fell 4.94%.
Financials lost 1.35% collectively as Commonwealth Bank Of Australia (ASX:CBA) eased 0.24%, Macquarie Group Ltd (ASX:MQG) lost 1.43%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 1.4%, National Australia Bank Ltd (ASX:NAB) declined 1.8% and Westpac Banking Corp (ASX:WBC) fell 2.03%.
On the bond markets, Australia 10-Year yields were at 2.096% while United States 10-Year rates were at 1.703%.
Ahead in the week, investors will be keeping and eye on NAB business confidence released on Tuesday, while Westpac consumer sentiment is set to be released on Wednesday.
In New Zealand, the NZX 50 fell 1.28% to 11,986.