Australian stocks fall amid Omicron worries and lower energy stocks

January 11 (Reuters) – Australian stocks fell on Tuesday, with energy and banking indices leading lower, as an increase in national COVID-19 cases and concerns about tightening monetary policies globally have weighed in the markets.

The benchmark ASX 200 (.AXJO) slipped 0.4% to 7,417.60 points at 11:36 p.m. GMT.

With the total number of infections in Australia topping one million on Monday – including more than last week alone – his government has pledged to ‘move forward’ the epidemic that has strained hospitals and drug chains. supply. Read more

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Supermarkets and retailers nationwide continued to face persistent supply chain constraints, which threatened empty shelves for weeks to come.

Retail giants Woolworths and Coles (COL.AX) lost about 1.3% each. Poultry producer Inghams Group (ING.AX) fell on its worst day since March last year, losing as much as 8.5%, after saying its major Australian sites were facing uptime levels in the significantly lower staff.

The energy index (.AXEJ) was the worst performer of the benchmark, falling as much as 1.4%, after oil prices weakened amid demand concerns. Read more

Heavy bank stocks (.AXFJ) fell nearly 1%, with the Big Four falling between 0.7% and 1.3%.

Miners (.AXMM) lost 0.8% on lower commodity prices, with the main Rio Tinto Ltd (RIO.AX) index falling 0.3%.

Rio Tinto followed Fortescue Metals (FMG.AX) in purchasing battery-powered electric trains to transport its iron ore to support its decarbonization strategy. Read more

Tech stocks (.AXIJ) rose 0.8%, buoyed by the 2.7% jump by buy-now giant Afterpay Ltd (APT.AX).

Gold stocks (.AXGD) ignored weakness in bullion prices to rise more than 1% to envision their best day since New Years Eve.

Gold miner Northern Star Resources Ltd (NST.AX) rose 1.8% heading for its biggest one-day jump since Dec.31, while Evolution Mining Ltd (EVN.AX) has climbed 1.5%.

Across the Tasman Sea, New Zealand’s benchmark S & P / NZX 50 (.NZ50) traded down 0.6% to 12,892.9.

Tourism Holdings Ltd (THL.NZ) was one of the stock market’s worst performers, losing as much as 2.7% to its lowest level in nearly two weeks.

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Reporting by Yamini CS; edited by Uttaresh.V

Our Standards: Thomson Reuters Trust Principles.

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