The S&P/ASX 200 Index dropped 1.39% to close at 7,576 in post-holiday trade on Friday, erasing gains from earlier in the week amid a sharp fall in BHP Group stock. BHP Group tumbled 4.5% after revealing a $39 billion bid for rival Anglo American in a deal that would create the world’s largest copper miner. Australian shares also caught up with a global stock selloff as US economic data pointed to weak growth in the first quarter, although strong earnings from major tech names subsequently fueled a rebound in global markets. Heavyweight financial, consumer and technology stocks tumbled as well, including Commonwealth Bank (-1.6%), ANZ Group (-1.8%), Woolworths Group (-1.3%), Wesfarmers (-0.8%) and Block Inc (-2.8%). Meanwhile, gold stocks advanced on higher bullion prices, with gains from Newmont Corp (13.3%) and Northern Star Resources (1.7%).
The main stock market index in Australia (ASX200) decreased 27 points or 0.35% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Australia. Historically, the Australia Stock Market Index reached an all time high of 7919.60 in April of 2024. Australia Stock Market Index - data, forecasts, historical chart - was last updated on April 26 of 2024.
The main stock market index in Australia (ASX200) decreased 27 points or 0.35% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Australia. The Australia Stock Market Index is expected to trade at 7759.49 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7361.49 in 12 months time.