S&P/ASX 200 trades near flat line as energy, materials shares slip
Brent crude fell 2.3% to settle at US$65.11 a barrel on Thursday after diplomats said progress was made toward a deal to lift sanctions on Iran, which could boost crude supply. Bitcoin prices slipped after the US Treasury said it is taking steps to crack down on cryptocurrency markets and transactions.
S&P/ASX 200 (INDEXASX:XJO) weakened from a strong start this morning, with the index trading down 0.011% to 7,018.8 by about 1 pm.
This followed strong gains on Wall Street overnight, where indices snapped a three-day losing streak.
Locally, energy is the worst-performing sector, down 2.09%, while materials slipped about 1.4%.
S&P/ASX 200 falls 1.11% after highest ever close of 7172.8 on Monday
Gold was trading at US$1,836.89 per ounce, near its three-month high as last week’s miss on the U.S. jobs growth numbers weighed on the dollar. US nonfarm payrolls data on Friday showed jobs growth unexpectedly slowed in April.
S&P/ASX 200 (INDEXASX:XJO) has slipped 1.11% to 7,093.5 with most sectors in negative territory ahead of tonight’s Federal Budget.
This follows a gain of 1.3% on Monday with the index reaching its highest ever close of 7172.8 points.
The price of iron ore has hit a record high for a second day, gaining 7.9% to US$229.55 per tonne.
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