Australia: Major miners, energy firms drag shares lower

[BENGALURU] Australian shares ended lower for a fourth straight session on Thursday, dragged by miners and energy firms that fell sharply on weaker commodity prices.

The S&P/ASX 200 index fell 0.5 per cent to close at 7,464.6 points, its longest losing streak since October 2020. The index fell as much as 1 per cent earlier in the session.

Aussie miners sank 4.3 per cent, with Rio Tinto, BHP Group and Fortescue Metals losing between 5.7 per cent and 6.4 per cent.

Lithium miners Mineral Resources and IGO Ltd shed 6.6 per cent and 5.8 per cent, respectively, also among the top losers on the benchmark.

Energy stocks slipped 2.7 per cent as oil prices took a knock from rising Covid-19 cases worldwide and a surprise build in US petrol stocks.

Woodside Petroleum fell 3.4 per cent, the most in its sector, followed by Whitehaven Coal that lost 3.1 per cent.

Aussie financials were down 0.1 per cent, with three of the "Big Four" lenders finishing in the red.

Australia's jobs data released on Thursday showed a surprise fall in unemployment rates as coronavirus lockdowns limited people's ability to look for work.

New Zealand's benchmark S&P/NZX 50 index jumped 1.9 per cent to finish the session at 12,956.97 points, its highest since Feb 10, boosted by a 12.4 per cent rise in telecom infrastructure provider Chorus Ltd.

REUTERS