You are here

Aussie stocks dive on weak commodity prices; NZ recoups losses

Friday, May 26, 2017 - 14:51

42224589 - 12_04_2017 - AUSTRALIA-STOCKS_.jpg

[BENGALURU] Australia stocks ended lower on Friday, battered by a downturn in commodity prices - especially oil - after Opec's modest extension of output curbs disappointed investors who had hoped for more.

The S&P/ASX 200 index slipped 37.9 points or 0.66 per cent to 5,751.7 at the close of trade. On the week, however, it rose 0.38 per cent.

BHP Billiton, the world's biggest miner, posted its sharpest intraday slide in three weeks, hit by falling oil prices and compounded by iron ore prices that appeared to be poised for a third weekly fall in four.

The metals index wilted 1.46 per cent at close.

sentifi.com

Market voices on:

Commonwealth Bank, Australia's biggest, was the top loser on the index, off 1.38 per cent.

ANZ Banking slid 1.5 per cent, while the other two of the 'Big Four' fell around 0.5 per cent each.

New Zealand's benchmark S&P/NZX 50 index recouped morning session losses and closed 0.09 per cent or 7.1 points higher, to finish the session at 7,441.57, helped by healthcare stocks.

Fisher and Paykel Healthcare was the top performer, up 2.22 per cent.

REUTERS

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom