Title: Australia stocks lower at close of trade; S&P/ASX 200 down 0.28%

May 24, 2022 03:45AM ET

By: AnalysisWatch

Australian stocks fell after Tuesday's close due to losses in the IT, telecommunication services and utilities sectors.

At the close in Sydney, the S&P/ASX 200 was down 0.28 per cent.

Among the best-performing stocks in the S&P/ASX 200 was Perseus Mining Ltd, which gained 3.31%, or 0.06 points, closing at 1.88. Pilbara Minerals Ltd gained 3.20 per cent, or 0.09 points, closing at 2.90, while Virgin Money PLC rose 2.72 per cent, or 0.07 points, closing at 2.64 in late trade.

The worst performer of the session was TABCORP Holdings Ltd, which lost 80.24% or 4.28 points to close at 1.05 in late trade. Nonfarm Ltd fell 14.55% or 0.85 points to close at 4.99 and Zip Co Ltd dropped 5.43% or 0.05 points to 0.87.

On the Sydney Stock Exchange, falling shares outnumbered rising ones: 907 to 491 and 386 unchanged.

Shares of TABCORP Holdings Ltd fell to five-year lows, down 80.24 per cent or 4.28 per cent to 1.05. Zip Co Ltd shares fell to three-year lows, down 5.43% or 0.05% to 0.87.

The VIX of the S&P/ASX 200, which measures the implied volatility of options on the S&P/ASX 200, fell 1.45% to 16.65.

Gold futures for June delivery rose 0.42 percent, or 7.69, to $1,855.49 a troy ounce. In other commodities trading, crude oil for July delivery fell 0.92%, or 1.02, to $109.27 a barrel, while the August Brent contract fell 0.93%, or 1.03, to $109.75 a barrel.

The AUD/USD was unchanged at 0.14% at 0.71, while the AUD/JPY fell 0.48% to 90.42.

US dollar index futures fell 0.31% to 101.78.