The S&P/ASX 200 Index tumbled 1.73% to close at 7,279 on Friday, falling for the third consecutive week as concerns over a new COVID variant triggered a market selloff in afternoon trading. Scientists feared that the new variant detected in South Africa may be able to evade immune responses and counter vaccine effects, prompting the UK to introduce travel restrictions on the African nation and five neighboring countries. All major sub-indexes closed lower but energy and travel stocks performed worst, with sharp losses from Woodside Petroleum (-5.1%), Flight Centre (-7.45%), Qantas Airways (-5.48%), Santos Limited (-4.84%) and Oil Search (-5.45%). Other companies in the mining, financial, technology and consumer sectors also slumped on Friday.
Historically, the Australia Stock Market Index (AU200) reached an all time high of 7632.80 in August of 2021. Australia Stock Market Index (AU200) - data, forecasts, historical chart - was last updated on November of 2021.
The Australia Stock Market Index (AU200) is expected to trade at 7255.23 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6847.68 in 12 months time.