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ASX down 0.3%: Declines led by property and mining sectors

PUBLISHED

2024-02-27

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Stocks dipped shortly after the market opened, mirroring the downturn on Wall Street. Declines were led by property and mining sectors, outweighing the gains seen in consumer-related stocks amidst a flurry of corporate earnings reports.

At 11:30am, the S&P/ASX 200 is 0.3 per cent lower at 7,630.20.

The SPI futures are pointing to a fall of 26 points.

Best and worst performers

The best-performing sector is Consumer Staples, up 1.92 per cent. The worst-performing sector is REITs, down 1.29 per cent.

The best-performing large cap is Reece (ASX:REH), trading 12.62 per cent higher at $27.13. It is followed by shares in Coles Group (ASX:COL) and Endeavour Group (ASX:EDV).

The worst-performing large cap is TPG Telecom (ASX:TPG), trading 3.45 per cent lower at $4.76. It is followed by shares in Lynas Rare Earths (ASX:LYC) and Newmont Corporation (ASX:NEM).

Commodities and the dollar

Gold is trading at US$2041.40 an ounce.

Iron ore is 4.2 per cent lower at US$116.00 a tonne.

Iron ore futures are pointing to a 2.3 per cent fall.

One Australian dollar is buying 65.42 US cents.

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