- Weak oil prices hammer energy index
- Woodside, Santos report lower qtrly revenue
- Financial index posts worst day since Sept. 30
Oct 22 (Reuters) - Australian shares slumped to a near two-week low on Thursday, weighed by energy and financial stocks, after an impasse in U.S. stimulus talks tempered market sentiment globally.
Broad-based losses pushed the S&P/ASX 200 index (xjo) down 1.5% or 90.10 points to 6,101.70 by 2348 GMT. The benchmark gained 0.1% on Wednesday.
The energy index .AXEJ tumbled 2.5% to lead losses, as oil prices fell 3% overnight after U.S. inventory figures showed demand for refined products lagged as global coronavirus cases spiked.
Sector heavyweights Santos Ltd (STO) and Woodside Petroleum (WPL) fell about 2% each as the oil and gas producers reported lower quarterly sales.
Wall Street fell overnight with investors fretting if the talks between lawmakers would result in a much-needed coronavirus relief bill as House Speaker Nancy Pelosi expressed doubts over its passage before the presidential elections.
Heavyweight Australian financial stocks .AXFJ slid 1.6% to mark its worst day since Sept. 30, pressured by a 5% drop in wealth manager AMP Ltd (AMP) and losses in the "Big Four" banks.
Australia and New Zealand Banking Group (ANZ) , National Australia Bank (NAB) Commonwealth Bank of Australia (CBA) and Westpac Banking Corp (WBC) - lost between 1.1% to 2%.
AMP said its Australian arm saw net outflows of A$1.95 billion ($1.38 billion) over three months ended Sept. 30 and flagged further losses of A$450 million in the coming quarter.
The healthcare index .AXMM fell 0.5%, with industry behemoth CSL Ltd (CSL) falling 1.8%.
In a bright spot, medical centre operator Healius Ltd (HLS) rose 5.8% to top the ASX200 after giving a positive first-quarter update.
In New Zealand, the benchmark S&P/NZX 50 index (nz50) fell 0.4% to 12,378.2.
Telecom infrastructure company Chorus Ltd (CNU) and Skycity Entertainment Group Ltd (SKC) fell 2.4% and 2.6%, respectively, and were among top laggards.
($1 = 1.4081 Australian dollars)
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Price($) | Vol. | No. |
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