Australian equities ended the session in negative territory on Wednesday, with the S&P/ASX 200 down 0.64% at the close in Sydney. Sector-level losses in Consumer Staples, Financials and Gold were among the primary drags on the index.
Among individual stocks, Perpetual Ltd (ASX:PPT) produced the strongest gain, jumping 16.77% or 2.60 points to finish at 18.10. Magellan Financial Group Ltd (ASX:MFG) also posted a sizable advance, climbing 11.20% or 1.09 points to 10.78, and South32 Ltd (ASX:S32) rose 10.38% or 0.41 points to close at 4.30.
On the downside, Objective Corp Ltd (ASX:OCL) led losses, plunging 37.38% or 3.85 points to end the day at 6.45. The decline took the stock to five-year lows. Alcoa Corp DRC (ASX:AAI) retreated 6.59% or 5.10 points to 72.28, while Sims Metal Management Ltd (ASX:SGM) fell 5.75% or 1.59 points to 25.98.
Market breadth was relatively balanced but slightly tilted to the upside in terms of counts: 566 stocks advanced versus 540 that fell, and 367 were unchanged on the Sydney exchange.
Volatility measures edged higher during the session. The S&P/ASX 200 VIX, which reflects implied volatility in S&P/ASX 200 options, increased 1.42% to 11.82.
Commodities showed mixed moves. Gold futures for August delivery declined 1.43% or 57.58 to $3,980.92 a troy ounce. Energy contracts were firmer: crude oil for August delivery rose 0.04% or 0.03 to $69.53 a barrel, while the September Brent contract increased 0.08% or 0.06 to $73.01 a barrel.
Currency and index futures activity was modest. AUD/USD was recorded as unchanged 0.42% to 0.69, while AUD/JPY slipped 0.36% to 112.10. The US Dollar Index Futures were up 0.13% at 101.09.
Market snapshot:
- S&P/ASX 200 -0.64% at close
- Top gainers: Perpetual Ltd (PPT), Magellan Financial Group (MFG), South32 (S32)
- Largest decliners: Objective Corp (OCL), Alcoa Corp DRC (AAI), Sims Metal Management (SGM)
- S&P/ASX 200 VIX +1.42% to 11.82