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Australian shares are down for a second day as the banks and tech stocks weigh on the market.

The benchmark S&P/ASX200 index was down 15.6 points, or 0.23 per cent, to 6,656.6 points at 1200 AEST on Tuesday, while the broader All Ordinaries was down 14.6 points, or 0.22 per cent, to 6,742.8.

Health care and tech stocks were both down 0.7 per cent as a whole, while banks were down 0.6 per cent.

Commonwealth Bank was down 0.7 per cent to $80.69, ANZ down 0.9 per cent to $27.64, NAB down 0.9 per cent to $26.52 and Westpac down 0.8 per cent to $27.80.

Pharma giant CSL was down one per cent.

Mining companies were up, however, by 0.3 per cent after iron ore prices rebounded after falling sharply on Friday.

BHP was up 1.1 per cent to $40.99, Rio Tinto up 1.3 per cent to $104.28 and Fortescue Metals up 1.8 per cent to $9.01.

Gold miners were down after the price of gold dipped back down under $US1,400 an ounce, with Newcrest down two per cent to $31.14 and Saracen Mineral down 1.6 per cent to $3.60.

Afterpay Touch was down 4.6 per cent to a one-week low of $25.76, weighing on the tech sector, while Xero rose 1.9 per cent to $63.785.

Consumer stocks were up modestly, led by Dominos Pizza – up 3.2 per cent to $39.97 – and Breville Group, up 3.5 per cent to $16.61.

PSC Insurance Group rose 4.3 per cent to $2.71 after agreeing to buy one of Australia’s largest regional independent insurance brokers, Griffiths Goodall Insurance Brokers, for $48 million.

Wall Street closed lower overnight, with the Dow Jones Industrial Average finishing down 0.43 per cent, the S&P 500 down 0.48 per cent and the tech-heavy Nasdaq Composite down 0.78 per cent.

The Aussie dollar is buying 69.64 US cents from 69.86 US cents on Monday.