Australian Markets Encountered a Fall After Wall Street Ended in Red

On 12th May 2021, Australian indices ended the session in red as selling pressure was witnessed in academic and educational services sector and utilities sector. Notably, ASX 200 witnessed a fall of 0.73% to 7,044.90 and ASX 300 declined by 0.73% to 7,035.50. On the same day, ASX 20 fell by 0.35%.  

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media

ASX Midcap 50 Index and ASX Small Ordinaries Index Outperformed Broader Market:

ASX 200 Index managed to close at 7,044.90, reflecting ~30.39% growth in the span of 1 year. Also, ASX Midcap 50 Index and ASX Small Ordinaries Index settled at the levels of 8,515.80 and 3,196.60 points, respectively. Therefore, it could be said that ASX Midcap 50 Index and ASX Small Ordinaries Index have shown their resilient performance.

S&P/ASX 200 vs S&P/ASX Midcap 50 Index vs ASX Small Ordinaries Index – One Year Return

Source: Refinitiv, Thomson Reuters

Gainers and Losers:

CSR Limited (ASX: CSR) announced that its full year net profit after tax amounted to $146.1 million, reflecting a rise of 17%. The company stated that it has increased its earnings with the strong focus towards cost control as well as operational efficiency that leveraged trading outcomes as the residential building activity witnessed an improvement during the 2H of the year.

AusNet Services Limited (ASX: AST) posted its full year results for the period ended 31st March 2021 (or FY 2021). The company’s revenues stood at $1,924.5 Mn, reflecting a fall of 2.7% on the YoY basis. Also, EBITDA declined by 3.5% YoY to $1,154.6 Mn.

Data Source: ASX; Table Source: Copyright © 2021 Kalkine Media

Movements on Wall Street:

On 11th May 2021, NASDAQ Composite fell by 0.09% to 13,389.43. However, Dow Jones Industrial Average witnessed a decline of 1.36% to 34,269.16. 

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