OGC 3.00% $2.40 oceanagold corporation

(Updates to close) Feb 2 (Reuters) - Australian shares eased...

  1. 68,069 Posts.
    lightbulb Created with Sketch. 460

    (Updates to close)

    Feb 2 (Reuters) - Australian shares eased slightly on Thursday, led by real estate stocks, as the Australian dollar rallied on data that showed a record trade surplus last month.

    The S&P/ASX 200 index (xjo) fell 7.76 points, or 0.14 percent, to 5,645.4 at the close of trade.

    The Australian dollar surged 0.7 percent to $0.7639, after the country reported a larger-than-expected trade surplus thanks to surging commodity prices.

    Investors typically look to book profits when the Aussie rises against the U.S. dollar, an analyst said.

    Real estate stocks were a main driver behind the market's decline.

    Shopping centres operator Scentre Group (SCG) fell 1.13 percent, while property company Stockland Corporation Ltd (SGP) slipped 1.37 percent.

    Three of the 'Big 4' banks slipped and Westpac Banking Corp (WBC) was flat.

    Qantas Airways Ltd (QAN) eased 1.2 percent, while rival Virgin Australia Holdings Ltd (VAH) closed 2.3 percent weaker.

    The losses offset gains in the commodities industry, which usually finds support from a declining U.S. dollar.

    Rio Tinto Ltd (RIO) climbed 0.22 percent, major gold producer Newcrest Mining Ltd (NCM) rose 2.17 percent, and South32 Ltd ended 0.7 percent higher.

    OceanaGold Corp (OGC), however, shed 17.8 percent after the Philippine mining minister ordered the suspension of some of its mines, citing environmental destruction.

    The materials index .AXMJ rose 0.2 percent, while the metals index .AXMM rose 0.43 percent.

    New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.03 percent, or 1.96 points, to finish the session at 7,053.54.

    A 1.8 percent drop in shares of building materials supplier Fletcher Building Ltd (FBU) drove losses in the materials sector, which fell 0.16 percent.

    Utilities further shaved off 0.10 percent, led by Meridian Energy Ltd (MEL).

 
watchlist Created with Sketch. Add OGC (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.