Welcome to your five-minute summary of the trading day and how the experts saw it.
The figures: The Australian stock market rose 0.3 per cent on Thursday thanks to good real estate and health stocks, but was slowed by the falls in the energy and mining sectors.
The S & P / ASX 200 settled after an initial high to close at 6,528.4 points, 19.9 points more than on Wednesday. However, energy stocks continued to fall in oil prices, falling by 2.1%, as fears of a recession weighed on commodities. Woodside was down 2.6% while Santos was down 2%.
Falling iron ore prices before trading also hurt the mining sector, with BHP, Rio Tinto and Fortescue falling slightly.
However, the other sectors were slightly higher, with an increase in real estate stocks by 2.3%.
Lifts: Blackmores 5.4%, Goodman Group 4.9%, Block Inc 4.7%
Backward: Lake Resources -16.7%, St Barbara Limited -13.5%, Pointsbet Holdings -11%
The drop: oil prices have now fallen more than 15 percent since June 8, with West Texas Intermediate (WTI) crude oil sinking even further ahead of Thursday’s trade to help sink stocks ASX power.
According to Bloomberg, the price of WTI oil was $ 104.16 a barrel at 4:05 p.m.
In a research note, RBC Capital Markets Commodity Strategist Michael Tran said the recent fall in prices was despite the fact that the fundamentals of the industry remain strong, but “the macro concerns of a recession is clearly dominating sentiment. “