Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Australian Shares Trade Flat as Big Tech Drags

Stock MarketsNov 24, 2021 11:34
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 was down just 7.40 points today to 7,403.20 in Wednesday’s trade as market participants digested rising long term bond yields and US President Joe Biden's decision to release strategic oil stockpiles on Tuesday.

ASX 200 Futures were trading 0.26% lower.

Among stocks, major technology names fell, with Appen Ltd (ASX:APX) down 0.61%, Afterpay Touch Group Ltd (ASX:APT) falling 1.33%, Wisetech Global Ltd (ASX:WTC) losing 2.4% and Xero Ltd (ASX:XRO) dipping 0.59%. Technology One Ltd (ASX:TNE) also plunged 8.61% after more analyst downgrades.

Energy stocks moved higher with Oil Search Ltd (ASX:OSH) up 1.9%, Santos Ltd (ASX:STO) gaining 2.23%, Woodside Petroleum Ltd (ASX:WPL) up 2.58% and Beach Energy Ltd (ASX:BPT) lifting 2.4% after President Joe Biden announced on Tuesday that he would tap strategic petroleum reserves to combat rising oil prices.

Major miners also lifted with BHP Billiton Ltd (ASX:BHP) up 0.81%, Rio Tinto Ltd (ASX:RIO) adding 0.14% and Fortescue Metals Group Ltd (ASX:FMG) gaining 1.27%.

ASX Ltd (ASX:ASX) fell 0.85% after The Australian Securities and Investments Commission (ASIC) imposed additional license obligations on the company after a technical meltdown in November last year suspended trading for a day and triggered calls for class actions.

Webjet Ltd (ASX:WEB) added 1.97% after reporting a half-year net loss of $A61.8 million for the six months to September 30. Other airlines were mixed, with Flight Centre Ltd (ASX:FLT) up 0.27% while Qantas Airways Ltd (ASX:QAN) fell 0.95%.

On the bond markets, Australia 10-Year rates were higher at 1.926%, while United States 10-Year yields traded near fresh 6-month highs of 1.676%.

In New Zealand, the NZX 50 was little changed at 12,691.

Australian Shares Trade Flat as Big Tech Drags
 

Related Articles

Futures gain as UnitedHealth, BofA rise on results
Futures gain as UnitedHealth, BofA rise on results By Reuters - Jan 19, 2022

By Shreyashi Sanyal (Reuters) - Upbeat results from UnitedHealth and Bank of America pushed U.S. stock index futures higher on Wednesday, partially righting a wobbly start to the...

Morgan Stanley Earnings beat, Revenue misses In Q4
Morgan Stanley Earnings beat, Revenue misses In Q4 By Investing.com - Jan 19, 2022

Investing.com - Morgan Stanley (NYSE:MS) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations. Morgan Stanley...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email