Aust shares close down 0.65pc, miners drop

Steven Deare
(Australian Associated Press)


Investors have had their biggest loss on the share market in more than a week after miners and energy providers fell heavily.

The S&P/ASX200 benchmark index closed lower by 44.1 points, or 0.65 per cent, to 6780.6 on Wednesday.

The All Ordinaries closed down by 51.2 points, or 0.72 per cent, at 7060.2.

The energy sector had the steepest decline, 3.41 per cent, after US crude oil prices fell on rising coronavirus infections.

The larger materials sector dropped 2.96 per cent after a drop in iron ore prices.

There was a slightly poor lead from Wall Street, which is in the midst of quarterly earnings season.

Some companies showed the toll the pandemic has had on business.

The Aussie dollar was buying 77.36 US cents at 1714 AEDT, lower from 77.40 US cents at Monday’s close and before the Australia Day public holiday.


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