ASX down 1.22% near noon: BHP tumbles 4.5%
PUBLISHED
2024-04-26
Content
BHP's (ASX:BHP) decline weighs on shares, while traders anticipate no interest rate cuts in 2024 due to Australian inflation surpassing expectations, causing Australian bond yields to rise significantly and prompting a notable decrease in the S&P/ASX 200 index, particularly impacting interest rate-sensitive sectors such as real estate, financials, and technology.
At 11:30am, the S&P/ASX 200 is 1.22 per cent lower at 7,589.10.
The SPI futures are pointing to a fall of 37 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses is Info Tech, down 0.36 per cent. The worst-performing sector is REITs, down 1.76 per cent.
The best-performing large cap is Newmont Corporation (ASX:NEM), trading 13 per cent higher at $65.20. It is followed by shares in ResMed (ASX:RMD) and GQG Partners (ASX:GQG).
The worst-performing large cap is BHP Group (ASX:BHP), trading 4.49 per cent lower at $43.19. It is followed by shares in Atlas Arteria (ASX:ALX) and Orica (ASX:ORI).
Commodities and the dollar
Gold is trading at US$2339.80 an ounce.
Iron ore futures are pointing to a 0.5 per cent fall.
One Australian dollar is buying 65.29 US cents.
Author
Name | Peter Milios | Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research. |