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Oil, coal exporters lift ASX; CBA finishes below $100

Shares flat; energy, miners gain

A strong day for the energy and materials sector was offset by falls among the banks and healthcare businesses to see the S&P/ASX 200 finish close to flat with a 0.02 per cent gain to 7114.5 points.

The energy sector surged on worries over shortages as Europe heads into Autumn. Coal miner Whitehaven Coal soared 6.2 per cent to $7.36, with New Hope up 4 per cent. Oil and LNG majors Santos and Woodside both added more than 4 per cent.

TPG Telecom was the worst performer after missing analysts’ expectations for sales and profit. It plunged 12.4 per cent to $5.80, with chicken farmer Inghams losing 9.4 per cent.

Australia’s largest bank, CBA, dropped $1.04 or 1 per cent to close below $100 at $99.95.

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    Original URL: https://www.afr.com/markets/equity-markets/asx-to-rise-agl-cleanaway-cochlear-to-report-20220819-p5bb34