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ASX was down 0.57% at midday: the best performing sector is industrial

By Vaseline May30,2024

Australian shares fell, reflecting weakness in New York amid declining risk appetite due to concerns about the interest rate trajectory. The S&P/ASX 200 fell 0.57 per cent to 7,621.80 at 11.30am, marking a continuation of its three-week slide. lows and a cumulative decline of more than 2.5 percent in the past five sessions. The downturn mirrors losses on Wall Street, where the Dow Jones fell 1.1 percent, the S&P 500 fell 0.7 percent and the Nasdaq fell 0.6 percent.

The SPI futures indicate a decline of 49 points.

Best and worst artists

The best performing sector is industry, with an increase of 0.21 percent. The worst performing sector is Materials, with a decline of 1.61 percent.

The best performing large cap is Qantas Airways (ASX:QAN), which is trading 1.95 per cent higher at $6.025. It is followed by shares in Pro Medicus (ASX:PME) and ALS (ASX:ALQ).

The worst performing large cap is IGO (ASX:IGO), which is trading 3.15 per cent lower at $7.07. It is followed by shares in Pilbara Minerals (ASX:PLS) and Fortescue (ASX:FMG).

Commodities and the dollar

Gold is trading at US$2361.00 per ounce.

Iron ore is 0.8 percent higher at $118.75 per tonne.

Iron ore futures point to a decline of 0.3 percent.

One Australian dollar buys 66.14 US cents.

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