Australian Securities Exchange
Australian Securities Exchange

The Australian stock market fell in trading on Monday after mostly negative signals from the Wall Street of America, which was last Friday, and with investors turning to caution amid a very large number of cases of coronavirus emerging in the United States as well as in the Australian state of Victoria.

In a related context, the benchmark S & P / ASX 200 index dropped 43.30 points, or 0.73 percent, to 5899.30 after falling to a low of 5881.10 earlier.

The broader All Ordinaries Index fell 47.70 points, or 0.79 percent, to 6013.90. As the Australian shares closed steady last Friday.

In that regard, among the four major banks, Westpac and National Australia fell nearly 1 percent each, Commonwealth Bank fell 0.2 percent and ANZ Banking fell 0.1 percent.

In the oil, gas, or oil sector, Santos and Oil Search fell more than 1 percent each, while Woodside Petroleum lost 1 percent even as crude oil prices rose more than 2 percent on Friday.

For its part, Metcash reported a one-year loss after incurring a non-cash drop fee after the loss of the 7-Eleven supply contract. Shares of IGA suppliers lost nearly 3 percent.

The Transurban Group has also revealed that it will pay a small profit in the second half amid a drop in traffic due to the emerging pandemic of Corona viruses.

Indeed, the shares of road operators fell by more than 2 percent, and at the same time, James Hardy Industries raised its forecast for profit margins in the first quarter of June after the housing market activity improved, especially in North America.

She added that the shares of the maker of building products are gaining more than 3 percent at present.

On the one hand the currencies will, only the Australian dollar fell against the US dollar on Monday. The local unit price was set at $ 0.6820, compared to $ 0.6859 on Friday.

On Wall Street, stocks closed lower on Friday after reports that revealed an increase in the incidence of emerging coronavirus in several states in the United States.

The Dow fell 208.64 points, or 0.80 percent, to settle at 25.871.46, and the S&P 500 fell 17.60 points, or 0.56 percent, to 3097.74, while the Nasdaq Heavy Technology Index increased 3.07 points, or 0.03 percent, to 94646.12.

Meanwhile, major European markets ended higher on Friday as the FTSE 100 in the United Kingdom increased and closed at Maksab by 1.1 percent, while the German DAX and French CAC 40 rose 0.4 percent and 0.42 percent, respectively.

Crude oil prices increased last Friday also amid continued optimism that OPEC members and their allies will adhere strictly to agreed production cuts to achieve a balance between the supply and demand situation and help stabilize prices. WTI closed in July, rising $ 0.91, or about 2.3 percent, at $ 39.75 a barrel.