ASX 200 Dips 0.2% as Falling Commodities Weigh on Energy, Materials

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By Oliver Gray – The lost 6.3 points or 0.1% to 6,522.1 after the first hour of Friday’s trade, partially retracing gains of 0.3% made in the previous session as falling , and oil prices dragged the and sectors lower.

were pointing 0.2% lower.

lost 2% with Woodside Energy Ltd (ASX:) down 2.2%, Santos Ltd (ASX:) falling 2.2% and Beach Energy Ltd (ASX:) down 2.2%.

fell 0.6% with Rio Tinto Ltd (ASX:) down 1.8%, BHP Billiton Ltd (ASX:) falling 1.9%, Fortescue Metals Group Ltd (ASX:) losing 1.6% and Champion Iron Ltd (ASX:) down 0.8%.

increased 3.3% collectively amid easing bond yields. Block Inc (ASX:) rallied 8.7%, Appen Ltd (ASX:) lifted 5.3%, Altium Ltd (ASX:) added 3.2% and Xero Ltd (ASX:) gained 3.9%.

On the bond markets, rates were lower at 3.728% while yields were at 3.1% as weak economic data from Europe and the U.S. added to growing recessionary fears.

In New Zealand, the remained closed for a public holiday.