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Feb 15 (Reuters) – Australian shares fell on Tuesday, tracking a downbeat Wall Street session amid heightened Ukraine-Russia tensions, although gains in heavyweight iron ore miner BHP Group after bumper first-half earnings provided a floor to the benchmark index.
The S&P/ASX 200 index (.AXJO) was down 0.6% at 7,203.9 points, as of 2353 GMT. The benchmark closed 0.4% higher on Monday.
Domestic stocks were tracking a sharp sell-off in U.S. peers as plans to close the U.S. embassy in Kyiv, a possible sign of an imminent Russian invasion in Ukraine, prompted investors to pull back from riskier assets. read more
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BHP Group (BHP.AX) gained up to 2.1% after the miner declared a record interim dividend and posted a first-half profit that beat analysts’ estimates. read more
Among sub-indexes, energy stocks (.AXEJ) were the top losers, shedding nearly 2% as investors locked in profits after the index hit a one-year peak in the previous session. Heavyweights Woodside Petroleum (WPL.AX) and Santos (STO.AX) fell 1.5% and 1.9%, respectively.
Financials (.AXFJ) dropped 1%, with the ‘Big Four’ banks slipping between 1.1% and 2.4%.
On the upside, gold stocks (.AXGD) jumped nearly 2% to their highest level in three weeks as the Russia-Ukraine conflict boosted bullion’s safe-haven demand. Shares of Australian miner Newcrest Mining (NCM.AX) rose 1.5%.
The bullion is considered a hedge against soaring inflation and often used as a safe store of value during times of political and financial uncertainty.
The gold rally helped lift the mining index (.AXMM) up 1.8% to its highest level in nearly four weeks.
In New Zealand, the benchmark (.NZ50) was down 0.3% at 11,945.52 points, as of 2353 GMT.
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Reporting by Arundhati Dutta in Bengaluru; Editing by Sherry Jacob-Phillips
Our Standards: The Thomson Reuters Trust Principles.
Register now for FREE unlimited access to Reuters.comFeb 15 (Reuters) – Australian shares fell on Tuesday, tracking a downbeat Wall Street session amid heightened Ukraine-Russia tensions, although gains in heavyweight iron ore miner BHP Group after bumper first-half earnings provided a floor to the benchmark index.The S&P/ASX 200 index (.AXJO) was down 0.6% at 7,203.9 points, as of 2353 GMT. The benchmark closed 0.4% higher on Monday.Domestic stocks were tracking a sharp sell-off in U.S. peers as plans to close the U.S. embassy in Kyiv, a possible sign of an imminent Russian invasion in Ukraine, prompted investors to pull back from riskier assets. read more Register now for FREE unlimited access to Reuters.comBHP Group (BHP.AX) gained up to 2.1% after the miner declared a record interim dividend and posted a first-half profit that beat analysts’ estimates. read more Among sub-indexes, energy stocks (.AXEJ) were the top losers, shedding nearly 2% as investors locked in profits after the index hit a one-year peak in the previous session. Heavyweights Woodside Petroleum (WPL.AX) and Santos (STO.AX) fell 1.5% and 1.9%, respectively.Financials (.AXFJ) dropped 1%, with the ‘Big Four’ banks slipping between 1.1% and 2.4%.On the upside, gold stocks (.AXGD) jumped nearly 2% to their highest level in three weeks as the Russia-Ukraine conflict boosted bullion’s safe-haven demand. Shares of Australian miner Newcrest Mining (NCM.AX) rose 1.5%.The bullion is considered a hedge against soaring inflation and often used as a safe store of value during times of political and financial uncertainty.The gold rally helped lift the mining index (.AXMM) up 1.8% to its highest level in nearly four weeks.In New Zealand, the benchmark (.NZ50) was down 0.3% at 11,945.52 points, as of 2353 GMT.Register now for FREE unlimited access to Reuters.comReporting by Arundhati Dutta in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.