Australian share markets ended the session in negative territory on Thursday, with sector weakness concentrated in Gold, Metals & Mining and Materials stocks. At the Sydney close the S&P/ASX 200 fell 1.43%.
By the end of trading, the index stood at 8,592.90, a drop of 124.80 points or 1.43% from the prior close. Market breadth showed more decliners than advancers, with 796 stocks falling compared with 348 that gained; 405 shares finished unchanged.
Among individual performers, Centuria Capital Ltd (ASX:CNI) was the session's top gainer, rising 5.82% or 0.11 points to finish at 1.91. James Hardie Industries PLC (ASX:JHX) also posted a solid advance, adding 4.27% or 1.28 points to close at 31.24. Sims Metal Management Ltd (ASX:SGM) climbed 3.47% or 0.87 points to end the day at 25.94.
On the downside, Genesis Minerals Ltd (ASX:GMD) registered the largest drop among the headline names, sliding 9.68% or 0.60 points to close at 5.60. Perseus Mining Ltd (ASX:PRU) fell 9.29% or 0.50 points to finish at 4.88, while AP Eagers Ltd (ASX:APE) declined 8.44% or 1.92 points to end at 20.84.
Sims Metal Management's shares reached five-year highs during the session, with the stock up 3.47% to 25.94 at the close.
Investor nervousness was reflected in option-implied volatility: the S&P/ASX 200 VIX rose 7.94% to 12.90.
Commodity markets showed divergent moves. Gold futures for August delivery fell 1.60% or 71.63 to $4,409.87 a troy ounce. Energy contracts moved higher: crude oil for July delivery rose 2.97% or 2.63 to $91.31 a barrel, while the August Brent contract increased 2.89% or 2.67 to trade at $94.92 a barrel.
Foreign exchange and broader dollar measures were mixed. AUD/USD was unchanged 0.24% to 0.71, while AUD/JPY fell 0.26% to 113.62. The US Dollar Index Futures were up 0.18% at 99.33.
Market snapshot - select data points from the session:
- S&P/ASX 200 - 8,592.90, down 124.80 (-1.43%)
- Best performers - CNI +5.82% to 1.91; JHX +4.27% to 31.24; SGM +3.47% to 25.94
- Worst performers - GMD -9.68% to 5.60; PRU -9.29% to 4.88; APE -8.44% to 20.84
- ADV/DEC/UNCH - 348/796/405
- S&P/ASX 200 VIX - up 7.94% to 12.90
- Gold (Aug) - down 1.60% to $4,409.87 per troy ounce
- Crude Oil (Jul) - up 2.97% to $91.31 per barrel; Brent (Aug) - up 2.89% to $94.92
- FX - AUD/USD unchanged 0.24% to 0.71; AUD/JPY -0.26% to 113.62; USD Index Futures +0.18% at 99.33
As the session closed, trading reflected pressure from resource-related sectors and elevated volatility measures. The distribution of decliners relative to advancers underscored the breadth of the sell-off across the market.