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Australian stocks end flat as it helps miners offset broader losses

Australian stocks on Tuesday with mining Gold stock Helped to offset the broader market losses caused by concerns about COVID-19 (new coronavirus infection) (# If there is no character limit, add parentheses when it first appears cluster Sydney Uncertainty surrounding the Senate outflow America..

The S & P / ASX 200 index fell 0.03% and fell 0.7% during the session.

The most populous state in New South Wales has called on residents of three cities to inspect and quarantine COVID-19. There was concern that the Sydney cluster might have spread to rural areas after positive visitors from the city.

Virus concerns have hit a wide range of sectors, hitting real estate, industrial and tourism stocks. Financial companies and energy companies have each reduced by more than 1%.

Broader risk sentiment was also hit prior to the two-round system elections in Georgia. US Senate It is at stake.

“I think the market is Republican pricing, which holds at least one of the Senate seats, but if the Democrats win both seats, the risk of tighter regulation and tax increases is much higher. “We will,” said CEO Mathan Somasundaram. At Deep Data Analytics, a Sydney-based company.

“It’s negative not only for the US market, but for everyone else,” he added.

Australian stocks Virgin money The UK was one of the top losers on the benchmark as it fell to a low of nearly two weeks and the UK entered a new national blockade to contain the surge in COVID-19 cases.

However, rising miners and gold stocks against the backdrop of soaring commodity prices helped limit losses in the S & P / ASX200 index.

The gold sub-index rose 3.3%, the highest since November 19th. Meanwhile, mining stocks reached their highest level since July 2008 due to soaring iron ore prices due to supply concerns.

Mining giants Rio Tinto, BHP Group and Fortescue Metals Group increased by 2% to 3%, with the latter two hit record highs.

The New Zealand Benchmark S & P / NZX 50 Index rose 2.1% in the first trading session of the year, with utility stocks rising the most.



Australian stocks end flat as it helps miners offset broader losses

https://economictimes.indiatimes.com/markets/stocks/news/australia-shares-end-flat-as-miners-help-offset-broader-losses/articleshow/80112434.cms Australian stocks end flat as it helps miners offset broader losses

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