iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Australia Market falls 0.7%

26 May 2022 , 05:41 PM

Australian share market finished session lower on Thursday, 26 May 2022, weighed down by losses in miners and retail stocks. At closing bell, the benchmark S&P/ASX200 fell 49.36 points, or 0.69%, to 7,105.88. The broader All Ordinaries index fell 52.35 points, or 0.71%, to 7,339.33. Market sentiment remained downbeat amid concerns that tightening global financial conditions will weigh on economic growth. U.S. Fed minutes released Wednesday showed officials are prepared to move ahead with several 50 basis points interest rate hikes. The Federal Open Market Committee also said policy may have to move away from neutral and into restrictive territory. The Bank of Korea announced Thursday a 25 basis points increase in its Base Rate to 1.75%, the central banks second straight rate hike. Shares of miners were amongst the worst performing stocks today with Rio Tinto falling 1.1% and Fortescue Metals Group erasing 3.7% after a drop in iron ore futures. Coal miner Whitehaven plunged 4.7%. Software maker Appen soared 29.2% after it received a A$1.2 billion buyout approach from Canadas Telus International. CURRENCY NEWS: The Australian dollar was at $0.7085 after touching an earlier high of $0.7109. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.