Australia Market finishes marginally lower

25 Jul 2022 , 05:26 PM

Australian share market finished choppy session lower on Monday, 25 July 2022, on tracking Wall Streets weakness in the previous session as investors awaited this weeks U.S. GDP data and Federal Reserve meeting. At closing bell, the benchmark S&P/ASX200 fell marginal 1.57 points, or 0.02%, to 6,789.93. The broader All Ordinaries index eased by 5.41 points, or 0.08%, to 7,006.37. The top performing stocks in S&P/ASX200 index were INSURANCE AUSTRALIA GROUP AND UNIBAIL RODAM, up 5.9% and 5.2%, respectively. The bottom performing stocks in S&P/ASX200 index were EML PAYMENTS and APPEN, down 22.2% and 15 % respectively. Investors focus is now on the Fed meeting and second-quarter U.S. gross domestic product data this week. The Feds rate announcement on 27th July is not likely to impact the market much since a 75 bps rate hike is already known and discounted by the market. The market will be keenly watching the Fed commentary for near-term triggers. Tech stocks led losses, with EML Payments plunging more than 22 percent. Higher iron prices helped lift miners, with BHP and Rio Tinto closing up 1.6 percent and 0.9 percent, respectively. Diversified miner South32 gained 0.9 percent after a solid Q4 update. Flight Centre (FLT) climbed 3% after upgrading its earnings guidance. The travel agent said it expects to record an underlying EBITDA loss between $180 million – $190 million (FY21: $337.9 million loss). FLT also expects its underlying EBITDA to break-even in 2HFY22, driven by profitability in the fourth quarter CURRENCY NEWS: The Australian dollar was at $0.6919, slightly above the $0.69 level.Powered by Capital Market – Live News