- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
ASX Round-Up: Energy Drags Market Down, Falls to 5,219.6 Points
On Friday, the S&P/ASX 200 fell 0.22 percent, or 11.4 points, to 5,219.6 points. Energy was the worst-performing industry on the market for the week.
On Friday, the S&P/ASX 200 (INDEXASX:XJO) fell 0.22 percent, or 11.4 points, to 5,219.6 points, according to The Sydney Morning Herald. Energy was the worst-performing industry on the market for the week, and the resource sector is struggling as well.
“You’ve got to really say, ‘where do I put my money? Do I go for higher yield, lower for longer?'” Paul Kasian, head of asset management at Equities Trustees, told the Herald. “And, you’ve got to buy U.S. dollar exposure because this low oil price will stimulate the U.S. economy, because they don’t have all these taxes, that low oil price will flow through to petrol prices.”
Despite the issues the energy market has been having, Senex Energy (ASX:SXY) was the top gainer for the day on Friday. The Australian oil and gas company, which has a large position in the Cooper Basin, gained 8.51 percent, or $0.02, to trade at $0.255.
The stock that lost the most on Friday was BC Iron (ASX:BCI), which slumped 8.75 percent, or $0.035, to trade at $0.365.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.