Shares in the ASX’s energy and utilities stocks fell after oil prices slipped, and lithium stocks also tumbled on speculation of weaker Chinese demand.
Shares in the ASX’s energy and utilities stocks fell on Tuesday after oil prices slipped, and lithium stocks also tumbled on speculation of weaker demand out of China.P/ASX 200 eased 0.1 per cent or 4.7 points, to 7141.6. All ords also dipped 0.1 per cent or 4.8 points to 7345.4.
Beach Energy dropped 2.8 per cent to $1.735, Woodside Energy eased 1.4 per cent to $38.52 and Santos shed 0.3 per ent to $7.43.The mood for lithium soured on weaker sentiment out of China amid disappointing economic data. Core Lithium led losses with a 15.8 per cent tumble to $1.57, Allkem dived 12.4 per cent to $14.25 and Pilbara Minerals plunged 8.7 per cent to $4.83. Liontown, Mineral Resources and IGO also fell sharply.
Shares in ailing power giant and largest Australian carbon emitter AGL slipped 1.2 per cent to $7.61 after shareholders elected all four of Mike Cannon-Brookes’ proposed directors to the company board,
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