ASX closes lower as energy stocks notch gains
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The news: The Australian sharemarket stemmed a late end of year rally, tracking declines on Wall Street overnight.
The benchmark ASX 200 fell 0.32% to end at 8,235, with nine out of 11 sectors finishing lower.
Biggest movers:
- Karoon Energy (3.8%) – the oil and gas explorer was the top performing ASX 200 stock after announcing the start of drilling at its Who Dat West exploration well in the US Gulf of Mexico.
- Fellow oil and gas explorers Santos (1.8%), Ampol (1.6%) and Beach Energy (1.5%) also ended among the top 10 performers across the ASX 200 as the energy sector advanced 1.1%.
- Property investors Region Group (-3.9%), GPT Group (-3.7%) and Dexus (-3.6%) were the worst performing ASX 200 companies.
Other news:
- Pro Medicus (-0.3%) signed a new $15 million deal with Duke University Health System, as part of its continued expansion into North American academic institutions.
- SkyCity Entertainment (-0.8%) advised of an extension to justice Brian Martin's independent review into its Adelaide casino.
The Australian dollar is buying 62.44 US cents.
What’s ahead: The ASX will shut early at 2:10pm on Tuesday for New Year's Eve and remain closed on Wednesday for New Year's Day.
A selection of Australian and US economic data is due for release later in the week, comprising construction and manufacturing activity as well as property prices.
