Australian stocks closed flat on Friday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AP
Australian shares retreated on Friday, with the market lacking direction as the Wall Street was closed for Thanksgiving Day holiday. Australian equities noted some support from upbeat PMI releases from the US, China and the Eurozone. At the same time, speculation that China will cut taxes for Chinese iron ore producers weighted down on Australian miners. The S&P/ASX 200 Index lost 0.07% to close at 4,413.00. Only three in ten sectors moved higher. The top-performers were utilities and financials. AGL Energy and APA Group climbed 1.29% and 1.32%, while Abacus Property Group and ASX gained 0.47% and 0.45%. Meanwhile, Lynas Corp. rallied 6.67%. The company announced that it would start operations at Malaysian plant after the first shipment of rare earth concentrates arrives. At the same time, consumer goods created heavy pressure on Austrian stock index. Shares of GrainCorp and Wesfarmers plunged 0.49% and 0.03%. Miners also were bearish. Adelaide Brighton, Alacer Gold Corp and Amcor sagged 0.63%, 1.96% and 0.26%, respectively.
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