Australian Market Declines

(RTTNews) - The Australian stock market is declining on Monday in the absence of fresh cues from Wall Street, which was closed on Friday for a holiday, and on worries about the rising number of coronavirus cases in the U.S. and other parts of the world.

The benchmark S&P/ASX 200 Index is losing 18.20 points or 0.30 percent to 6,039.70, after touching a low of 6,037.30 earlier. The broader All Ordinaries Index is lower by 14.50 points or 0.24 percent to 6,149.20. Australian stocks closed higher for a fourth day on Friday.

Among the major miners, BHP is declining almost 1 percent, Rio Tinto is down 0.6 percent and Fortescue Metals is lower by 0.4 percent.

Gold miners are also lower. Newcrest Mining is lower by more than 1 percent and Evolution Mining is down 0.2 percent.

In the oil sector, Santos is advancing more than 1 percent, Woodside Petroleum is adding 0.4 percent and Oil Search is up 0.3 percent.
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