Santos Ltd (ASX:STO) is one of Australia’s largest oil and gas companies. Founded in the 1950’s, Santos owns and operates one of Australia’s largest portfolios of oil and gas fields, connected by extensive pipelines and complementary facilities.
The Australian market retreated on Thursday, but in a barely noticeable manner; the benchmark S&P/ASX 200 (INDEXASX: XJO) slipped 5.1 points to 7,173, while the broader All Ordinaries (INDEXASX: XAO) index lost 2 points, to 7,384.
The benchmark S&P/ASX 200 (INDEXASX: XJO) index adding 51.5 points, or 0.7 per cent, to 7124.7, with nine of the 11 sectors finishing in the green. The broader All Ordinaries (INDEXASX: XAO) index also rose 0.7 per cent, in its case 51 points, to 7,336.1.
Here’s today’s The Match Out report from Market Matters’ James Gerrish. Key point: the S&P/ASX 200 (INDEXASX: XJO) finished up +0.73% to 7,124.70.
A delay to OPEC’s impending meeting send Brent crude lower, on concerns that expected production cuts may not come to fruition; both Woodside Energy Group Ltd (ASX: WDS) and Santos Ltd (ASX: STO) fell by 1.7%.
The local market managed a positive start to the week with both the S&P/ASX 200 (INDEXASX: XJO) and All Ordinaries (INDEXASX: XAO) gaining 0.1% on the back of strength in the energy sector.
The benchmark S&P/ASX 200 (INDEXASX: XJO) index advanced 19.5 points, or 0.3%, to 7014.9, while the broader All Ordinaries (INDEXASX: XAO) index rose 16.7 points, or 0.2%, to 7,215.
The Australian dollar and bond yields slid after the Reserve Bank of Australia lifted the cash rate by 0.25% on Melbourne Cup Day, to 4.35%.
The S&P/ASX 200 (INDEXASX: XJO) closed 19.2 points, or 0.3%, higher at 6,997 and the broader All Ordinaries (INDEXASX: XAO) index was 0.2% higher, up 17.2 points at 7,192.3.
The All Ordinaries (INDEXASX: XAO) gained 1% and the S&P/ASX 200 (INDEXASX: XJO) 0.9% on a strong day for the market, with the interest rate sensitive sectors in technology and property leading the way, up 3.2% and 2.4%.
