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Australia Market falls 0.2%
22-Jun-22   16:55 Hrs IST
Australian share market finished session slightly lower on Wednesday, 22 June 2022, after erasing early gains, due to futures pointing to a softer start to trade in the United States tonight.

Investors opted to book yesterday's profit and wait-and-see attitude ahead of congressional testimony by Federal Reserve Chair Jerome Powell later in the day for further clues about whether another 75-basis-point rate hike is on the cards in July.

At closing bell, the benchmark S&P/ASX200 fell by 15.26 points, or 0.23%, to 6,508.54. The broader All Ordinaries index declined by 18.47 points, or 0.28%, to 6,682.33.

Total 6 of 11 sectors were lower along with the S&P/ASX 200 Index, with information technology issue, down 1.5%, suffered the largest percentage losses, while utilities was the best performing sector, gaining 2.05%

The top performing stocks in S&P/ASX200 index were IRESS and APA GROUP, up 4.5% and 4.2% respectively. The bottom performing stocks in this index were ST BARBARA and ZIP CO, down 18.1% and 11.4% respectively.

The best performer today was Coronado Global Resources (CRN), which climbed 7.5 per cent today. The coal miner rebounded from a 7 per fall yesterday, after the Queensland Government announced increased coal royalties. CRN's Queensland operations account for between 60-70 per cent of its coal sales. Gold miner St Barbara (SBM) was the worst performer today after its shares shed 18.1 per cent today. This is on the back of SBM announcing plans to carry out a strategic review of its Simberi mine in Papua New Guinea.

CURRENCY NEWS: The Australian dollar was at $0.6887, after falling from levels above $0.702 late last week.

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