Aussie share market flat with energy offsetting losses

2021-01-13 08:14

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SYDNEY, Jan. 13 (Xinhua) -- The Australian share market opened flat on Wednesday, with a surge in energy stocks offsetting losses.

At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 6 points or 0.090 percent at 6,685.10, while the broader All Ordinaries index was up 10.60 points or 0.15 percent at 6,949.70.

Energy stocks led gains with a 2.5 percent rally as crude oil surged to new heights on a stronger demand outlook. The country's miners were also broadly improved with the exception of gold stocks which sank.

Tech shares were the biggest weight, with broad losses across the sector, the largest of which came from local fintech giant, Afterpay, down over 3 percent in early trade.

Most other sectors posted modest losses, however, consumer discretionaries managed to climb over half a percent on the back of a surge by retail giants, Harvey Norman and JB Hi Fi.

In the financial space, the big banks varied with Commonwealth Bank down (0.29 percent), ANZ up (0.17 percent), National Australia Bank down (0.04 percent) and Westpac Bank up (0.34 percent).

Mining stocks were mostly higher with Rio Tinto up (1.64 percent), Fortescue Metals up (1.07 percent) and BHP up (1.27 percent), however, goldminer Newcrest was down (0.77 percent).

The country's oil and gas producers rallied with Oil Search up (3.11 percent), Santos up (2.91 percent) and Woodside Petroleum up (2.84 percent).

Australia's largest supermarkets dropped with Coles down (0.79 percent), and Woolworths down (1 percent).

Meanwhile, telecommunications giant Telstra bounced (0.17 percent), the national carrier Qantas lifted (0.83 percent) and biomedical firm CSL sank (0.75 percent).
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