Stock Market Update: Australian Shares Dip Amid Global UncertaintyStock Market Update: Australian Shares Dip Amid Global Uncertainty The Australian stock market experienced a subdued start to the trading day, influenced by anticipation of upcoming elections in Britain and France amidst ongoing global uncertainty. At 11:35am, the S&P/ASX 200 had declined by 0.29% to 7,745, with technology shares, particularly WiseTech, facing significant losses. Key Market Movements: * The Australian Real Estate Investment Trust (A-REIT) sector emerged as the top performer, gaining 0.91%. * The Information Technology (Info Tech) sector struggled, registering a decline of 1.84%. * Whitehaven Coal (ASX: WHC) emerged as the best-performing large cap, surging by 5.75% to $8.09. * WiseTech Global (ASX: WTC) faced steep declines, dropping by 4.19% to $96.10. Commodities and Currency: * Gold traded at US$2338.00 per ounce. * Iron ore prices increased by 0.9% to US$106.70 per tonne. * One Australian dollar traded for 66.69 US cents. Upcoming Economic Releases: Investors are keeping a close eye on upcoming economic data and the Reserve Bank’s policy minutes, which are scheduled for release tomorrow.
The Australian stock market opened lower on anticipation of elections in Britain and France amid continued global uncertainty. At 11.35am the S&P/ASX 200 is 0.29 per cent lower at 7,745, while technology shares, particularly WiseTech, are down 1.9% and 4% respectively. Investors are also keeping an eye on the upcoming French elections, while domestic focus shifts to the upcoming economic data and Reserve Bank policy minutes tomorrow.
The SPI futures indicate a decline of 48 points.
Best and worst artists
The best performing sector is A-REIT, up 0.91 percent. The worst performing sector is Info Tech, down 1.84 percent.
The best performing large cap is Whitehaven Coal (ASX:WHC), which is trading 5.75 percent higher at $8.09. It is followed by shares in Lynas Rare Earths (ASX:LYC) and Yancoal Australia (ASX:YAL).
The worst performing large cap is WiseTech Global (ASX:WTC), which traded 4.19 percent lower at $96.10. It is followed by shares in Pro Medicus (ASX:PME) and Telix Pharmaceuticals (ASX:TLX).
Commodities and the dollar
Gold is trading at US$2338.00 per ounce.
Iron ore is 0.9 percent more expensive at US$106.70 per tonne.
One Australian dollar buys 66.69 US cents.
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