Energy Drags ASX down; Fisher & Paykel Jumps 8pc

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Energy Drags ASX down; Fisher & Paykel Jumps 8pc

australian financial review03-22

A sharp decline in mining and energy stocks dragged the Australian sharemarket lower on Friday, shrugging off another strong session on Wall Street.The S&P/ASX 200 Index fell by 0.2 per cent, or 11.4 ...

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·03-22
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The benchmark sealed a weekly gain of 1.3 per cent.The All Ordinaries fell 0.2 per cent.In New York, all three major equity benchmarks reset record highs, though the rally’s momentum was checked somewhat by a 4.1 per cent slide in Apple, which is being sued by the US Department of Justice.In the ASX, energy stocks tracked a lower crude oil price to fall 1.3 per cent. Brent closed below $US86 after a stronger US dollar outweighed optimism that the Federal Reserve will stick to its rate cut forecast this year. Woodside Energy fell 1.8 per cent to $29.73 and Ampol declined 0.8 per cent to $40.29.The materials sector dropped 0.9 per cent as Singapore iron ore futures traded down 3.1 per cent to $US106.40 a tonne on the April contract. 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