Australia: Shares weighed down by tech stocks, Ukraine tensions

[BENGALURU] Australian shares fell on Monday, dragged down by tech stocks and as tensions surrounding Ukraine kept risk sentiment low globally, while AGL Energy soared after rejecting a US$3.54 billion buyout offer.

The S&P/ASX 200 index was down 0.8 per cent to 7,167 by 0030 GMT, extending losses after Friday's 1 per cent drop.

Major indexes on Wall Street closed lower on Friday as escalating tensions in Ukraine and US warnings of a potential Russian invasion kept markets on edge.

Most sectors were in negative territory in Australia, with technology stocks tracking their US peers lower and leading losses on the domestic bourse.

Tyro Payments fell as much as 19 per cent and was the top loser on the sub-index, after posting weaker-than-expected results.

Software firm Altium slumped 10.6 per cent to a five-month low after issuing a downbeat margin guidance.

Meanwhile, AGL Energy rose 13 per cent to its highest since July 19 after the power producer rejected a A$4.94 billion buyout offer from tech billionaire Mike Cannon-Brookes and Canada's Brookfield Asset Management.

Heavyweight financials fell 0.8 per cent, with the so-called "Big Four" banks and buy now, pay later company Zip leading the decline.

Fuel suppliers Ampol and Viva Energy fell 1.7 per cent and 4.4 per cent, respectively, even after posting full-year profits compared to year-ago losses.

Oil prices gained more than US$1 in early trade on jitters over potential conflict between Russia and Ukraine, with the United States and European Union making clear Russia would face sanctions if it invaded its neighbour.

Among gainers, gold stocks rose 1.2 per cent on stronger bullion prices.

New Zealand's benchmark S&P/NZX 50 index slipped 0.5 per cent to 12,080.94.

Shares of a2 Milk rose 10.3 per cent to their highest since Nov 29, after the dairy producer said it expected second-half revenue to be significantly higher than a year earlier. REUTERS