ASX200 ends flat as European debt crisis echoes
The S&P/ASX200 rose just 0.05% as European debt fears pressed investors to dump euros and suppress commodity gains.
Australia's share market rallied early Monday then gave back most gains, ending barely higher at 8686.4. Traders tracked growing concern over France's debt crisis as the early gains faded.
The gap between French and German borrowing costs widened to its largest since 2012, prompting investors to sell euros for US dollars. Selling euros blunted gains in commodities and mining stocks.
Multiple states were on public holiday, limiting local market interest. Seven of 11 sectors finished lower, led by consumer stocks and IT.
Healthcare stocks and raw materials held up better. The big four banks traded either side of break-even.
- 8686.4
- ASX200 closing level
- 0.05%
- Daily gain
- 7 of 11
- Sectors that declined
- 2012
- Debt gap widest since
Why it mattersMarket weakness driven by overseas turmoil shows how much Australian investors watch global events, even when local news stays quiet.
AustraliaAustralian share holders saw no movement, but the drift toward European caution signals investors are braced for slower growth ahead.
Corroborated bysmh.com.au
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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