Holding
a large weighting in these indices and contributing to their decline was technology device manufacturer Apple.
The company's share price continued its fall, down 5.1 per cent. Investors could be reacting to expectations of weaker demand for the most recent products, in part due to high inflation rates worldwide.
Sector performance was in the red across the board. Consumer discretionary and utilities both fell by 3.6 per cent, while technology dropped by 3.0 per cent.
Leading the market was global information firm DXC Technology, rising 3.9 per cent. Insurance company Everest RE and medical device business Steris increased 2.2 and 2.1 per cent, respectively.
Leading those in the red was used car company, Carmax, down 23.8 per cent at the time of writing. The company recently released second-quarter results which showed earnings per share fell to US$0.79, down approximately 54 per cent from a year ago.
Gaming company Caesars Entertainment and technology firm Aptiv fell 7.5 and 7.3 per cent respectively. Both drops in share prices established new 52-week lows for the companies.
Rest of the World
Markets in Asia were mixed overnight. The Nikkei rose 1.0 per cent while the Hang Seng and Shanghai Composite fell 0.5 and 0.1 per cent, respectively.
European indices were in the red with the FTSE, DAX, and CAC each falling 1.8, 1.7, and 1.5 per cent.
Commodities
WTI Crude Oil rose 0.9 per cent to US$82.86 per barrel while natural gas fell 2.6 per cent.
Gold prices fell 0.2 per cent to trade at US$1,667.4 per ounce.
At the time of writing, Ethereum increased by 0.5 per cent while Bitcoin dropped 0.4 per cent.
Lastly, the US 10-Year Treasury Rate rose six basis points, to 3.77 per cent.
New Zealand
The NZX 50 rose 0.7 per cent on Thursday, closing at 11,200 points.
Leading the index higher was biotechnology firm Pacific Edge, increasing 8.9 per cent, on no apparent news.
Travel management company Serko and gambling and entertainment business SkyCity gained 3.6 and 3.4 per cent respectively.
On the flipside, industrial and agricultural product manufacturer, Skellerup, fell 3.3 per cent. Also underperforming was real estate investment firm Stride Property, which decreased 3.1 per cent.
The Fonterra Shareholders Fund also lost 3.1 per cent yesterday, continuing Wednesday's decline.
Australia
The ASX 200 was in the green yesterday, rising 1.4 per cent to 6,555 points.
All 11 sectors finished higher at the end of the trading session, led by energy, up 2.8 per cent. Materials and telecommunication services also performed well, increasing 1.8 per cent and 1.6 per cent, respectively.
Utilities was the lowest performing sector marginally lifting 0.02 per cent. Across the week, healthcare was the only sector in the green, up 1.2 per cent.
Premier Investments was the index's best performer yesterday, advancing 14.6 per cent.
This follows the release of positive 2022 full year results, seeing net profit grow 4.9 per cent to A$285.2 million. It was supported by a A$1.5 billion growth in sales, 5.2 per cent higher than the previous year. The company also announced a special dividend of 25 cents per share and a planned A$50 million share buyback.
Coal company Coronado Global Resources built on Wednesday's performance, advancing 8.1 per cent.
Rounding out yesterday's top movers was mining and exploration company De Grey Mining, lifting 7.2 per cent.
Yesterday's biggest underperformer of the index was finance software company IRESS, dropping 17.3 per cent. The company downgraded their 2022 profit guidance. Their net profit is now expected to be between A$54 - A$58 million, compared to the previously expected range of A$63 - A$72 million.
Closing out yesterday's bottom movers was commercial real estate investment & management company Cromwell Property Group and dairy company Bega Cheese, declining 1.5 per cent and 1.4 per cent, respectively.
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All market pricing and announcements are sourced from Refinitiv, NZX and ASX.
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