Australia stock market finished session sharply lower in post-holiday trading on Friday, 26 April 2024, following the broadly negative cues from Wall Street overnight. All ASX200 sectors declined, with shares in materials, realty, telecom, financial, and materials leading declines.
At closing bell, the benchmark S&P/ASX200 index fell 107.91 points, or 1.39%, to 7,575.91. The broader All Ordinaries index was down 100.12 points, or 1.26%, to 7,837.39.
All 11 sectors ended lower along with the S&P/ASX 200 Index. Industrial was the worst performing sector, falling 2.2%, followed by A-REIT (down 1.93%), telecommunication services (down 1.85%) sectors.
The bottom performing stocks in S&P/ASX200 index were MAGELLAN FINANCIAL GROUP and BOSS ENERGY, down 5.13% and 4.99% respectively. The top performing stocks in S&P/ASX200 index were NEWMONT CORP and RESMED INC, down 13.86% and 9.6% respectively.
Shares of gold miner Newmont soared 13.9% after the company revealed that Canada?s Lundin Gold had agreed to buy out 100% of the balance of a stream credit facility agreement and offtake agreement for its Fruta del Norte gold mine in Ecuador for $US330 million ($505 million). Newmont still holds a 31% equity interest in Lundin, adding that the deal is part of its efforts to monetise non-core assets following its acquisition of Newcrest in 2023. The company also said it realised an average gold price of US$2090 (A$3203) an ounce in the March quarter, compared with US$1906 (A$2921) an ounce in the previous quarter, providing further impetus for its stock.
Shares of Healthcare giant ResMed surged 9.6% following its March quarterly earnings report that showed profit rose 29% to US$300.5 million (A$460 million), a 29% increase year-on-year.
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