Australian equities finished the Thursday session in negative territory, with the S&P/ASX 200 ending down 0.10% at the close in Sydney. The market’s decline was led by weakness across the Information Technology, Gold and Telecoms Services sectors, which weighed on benchmark performance.
On an individual stock basis, the top performers within the S&P/ASX 200 were DroneShield Ltd (ASX:DRO), Orica Ltd (ASX:ORI) and Mercury NZ Ltd (ASX:MCY). DroneShield rose 5.63%, gaining 0.24 points to finish at 4.50. Orica added 5.33%, or 1.04 points, to close at 20.57. Mercury NZ advanced 5.05%, up 0.26 points to 5.41 by late trade.
At the other end of the leaderboard, Nickel Mines Ltd (ASX:NIC), Megaport Ltd (ASX:MP1) and Treasury Wine Estates Ltd (ASX:TWE) were among the weakest names. Nickel Mines declined 7.94%, shedding 0.08 points to end at 0.87. Megaport slipped 7.56%, down 0.60 points to 7.34. Treasury Wine Estates fell 5.08%, losing 0.18 points to trade at 3.36.
Market breadth was tilted toward losses with 651 stocks falling versus 441 gaining on the Sydney exchange; 376 issues finished unchanged. Two stocks in particular reached notable multi-period lows: Megaport’s shares retreated to 52-week lows as they dropped to 7.34, while Treasury Wine Estates hit a five-year low at 3.36.
Volatility as measured by the S&P/ASX 200 VIX eased during the session, declining 3.42% to 16.33. That movement reflected a modest reduction in implied option volatility on the benchmark index.
Commodity markets were mixed. Gold futures for June delivery fell 1.42%, sliding 65.28 to $4,520.22 a troy ounce. By contrast, crude oil prices advanced: the May contract for U.S. crude rose 1.99% or $1.80 to $92.12 a barrel, while the June Brent contract increased 1.47% or $1.43 to $98.69 a barrel.
Currency trading showed limited movement in major crosses quoted in the report. The Australian dollar was effectively flat against the U.S. dollar, with AUD/USD unchanged by 0.01% at 0.70. AUD/JPY dipped 0.02% to 110.82. The U.S. Dollar Index futures rose 0.04% to 99.44.
Market snapshot
- Benchmark: S&P/ASX 200 down 0.10% at close.
- Breadth: 651 decliners, 441 advancers, 376 unchanged.
- Volatility: S&P/ASX 200 VIX down 3.42% to 16.33.
- Commodities: Gold June down 1.42% to $4,520.22/oz; WTI May up to $92.12/barrel; Brent June up to $98.69/barrel.
- Currencies: AUD/USD 0.70 (unchanged), AUD/JPY 110.82, USD Index futures 99.44 (up 0.04%).