Australia’s stock market closed lower on Friday, with significant losses in the materials, energy, and financial sectors driving the overall decline. The benchmark index fell by 1.24%, hitting a new three-month low in Sydney trading.
Among the day top performers was Codan Ltd (ASX: CDA), which saw a 3.45% increase, adding 0.54 points to close at 16.18. Pointsbet Holdings Ltd (ASX: PBH) also posted a solid gain of 2.50%, rising 0.03 points to end at 1.02, while AGL Energy Ltd (ASX: AGL) climbed 2.23%, adding 0.24 points to settle at 10.98.
On the other hand, the worst performers included Mesoblast Ltd (ASX: MSB), which plunged 20.66% or 0.63 points to close at 2.42. Wesfarmers Ltd (ASX: WES) saw a 5.00% decline, dropping 3.66 points to end at 69.56, and Seek Ltd (ASX: SEK) fell 4.57%, losing 1.07 points to close at 22.34.
The broader market saw a greater number of declining stocks, with 599 losing ground compared to 449 advancing, and 458 remaining unchanged. The S&P/ASX 200 volatility index, which tracks implied volatility, dropped by 0.87% to 11.70.
In commodities, gold futures for February delivery rose by 0.17%, or $4.51, to reach $2,612.61 per ounce. Meanwhile, oil prices saw slight declines, with January crude oil futures falling 0.40% to $68.95 a barrel, and February Brent oil contracts down by 0.63% to $72.42.
The Australian dollar remained relatively stable against the US dollar, up 0.21% to 0.62, while it fell 0.38% against the Japanese yen, trading at 97.80. The US Dollar Index futures also saw a slight increase of 0.04%, rising to 108.20.
