Australia stocks lower at close of trade; S&P/ASX 200 down 1.16%

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At the close in Sydney, the S&P/ASX 200 fell 1.16%.

The best performers of the session on the S&P/ASX 200 were Independence Group NL (ASX:IGO), which rose 4.84% or 0.250 points to trade at 5.420 at the close. Meanwhile, TPG Telecom Ltd (ASX:TPG) added 4.70% or 0.360 points to end at 8.020 and Avita Therapeutics Inc (ASX:AVH) was up 3.85% or 0.250 points to 6.750 in late trade.

The worst performers of the session were Insurance Australia Group Ltd (ASX:IAG), which fell 7.80% or 0.450 points to trade at 5.320 at the close. Evolution Mining Ltd (ASX:EVN) declined 7.77% or 0.49 points to end at 5.82 and Megaport Ltd (ASX:MP1) was down 6.60% or 0.92 points to 13.01.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 665 to 527 and 359 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 8.48% to 20.167.

Gold Futures for August delivery was down 0.21% or 4.05 to $1885.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.12% or 0.05 to hit $41.02 a barrel, while the September Brent oil contract fell 0.02% or 0.01 to trade at $43.30 a barrel.

AUD/USD was down 0.11% to 0.7089, while AUD/JPY fell 0.55% to 75.42.

The US Dollar Index Futures was down 0.03% at 94.623.