ASX 200 closes sharply lower; materials & energy lead losses

3 min read | October 17, 2022 04:24 PM AEDT | By Bhawna Gupta

Highlights

  • The ASX 200 benchmark index closed down today (17 October), losing 94.40 points or 1.40% to end at 6,664.40 points.
  • Over the last five days, the ASX 200 is virtually unchanged, but is down 10.48% for the last year to date.
  • Energy and materials were the biggest loser, closing 2.11% lower each followed by consumer discretionary which ended 1.43% down.

The S&P/ASX200 closed lower on Monday (17 October), losing 94.40 points or 1.40% to end at 6,664.40 points.

Key pointers from ASX close today

  • The ASX 200 benchmark index closed down today, losing 94.40 points or 1.40% to end at 6,664.40 points.
  • Liontown Resources Ltd (ASX:LTR) and Core Lithium Ltd (ASX:CXO), gained the most on the index, closing 4.89% and 5.19% strong respectively.
  • On the benchmark index, Adbri Limited (ASX:ABC) and Costa Group Holdings Ltd (ASX:CGC), marked most of the losses, ending 22.01% and 13.42% lower respectively.
  • Over the last five days, the ASX 200 is virtually unchanged, but is down 10.48% for the last year to date.
  • All 11 sectors closed in the red.
  • Energy and materials were the biggest loser, closing 2.11% lower each followed by consumer discretionary which ended 1.43% down.
  • Volatility indicator A-VIX index was up 0.25% at 4.09 PM AEDT.
  • The All-ordinaries Index fell 1.36%.

Newsmakers

Australian Vanadium (ASX:AVL): Graham Arvidson has been appointed CEO of Australian Vanadium, with effect from November 1.

With his 18 years of experience in the mining industry, Arvidson offers to Australian Vanadium his knowledge in project development, management, and business leadership.

He served in an executive capacity at Primero Group for the previous four years, where he oversaw the company's lithium activities and offered project development and due diligence services for the Australian and North American lithium industries.

Shares of Australian Vanadium  closed at AU$0.035 each, down 2.78% on ASX today.

ClearVue Technologies (ASX:CPV): In an ASX filing today, ClearVue informed that for the first residential installation of its solar energy skylight windows in a brand-new luxury residence in the ACT, the company has received an order.

Along with other non-solar windows and doors, Clearvue will erect eight 0.78 by 1.4 metre photovoltaic skylights as part of the project.

Meanwhile, shares of ClearVue  closed at AU$0.20 each, up 2.50% on ASX today.

Image source: © 2022 Kalkine Media ® 
Data source- ASX website dated 17 October 2022

Bond yield

Australia’s 10-year Bond Yield stands at 4.03% as of 4.54 PM AEDT.

In global markets

Wall Street indices witnessed a sharp decline on Friday, October 14, dragged down by the still-elevated inflation data that has poured water on investors' hopes that the Federal Reserve may ease its aggressive plans in the coming months.

The S&P 500 fell 2.37% to 3,583.07. The Dow Jones was down 1.34% to 29,634.83. The NASDAQ Composite lost 3.08% to 10,321.38, and the small-cap Russell 2000 fell 2.66% to 1,682.40.

In Asia, the Asia Dow was 0.42% up, Shanghai Composite in China gained 0.34% while Nikkei in Japan decreased by 1.28% and the Hang Seng in Hong Kong fell 0.22% at 4.55 PM AEDT.

In commodities markets

Crude Oil WTI was spotted trading at US$86.42/bbl while Brent Oil was at US$92.20/bbl at 4.56 PM AEDT.

Gold was at US$1652.75 an ounce, copper was at US$3.44/lbs and iron ore was at US$96.50/T at 4.56 PM AEDT.


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