The Australian share market slipped slightly on Tuesday, building on modest losses from the prior session despite overnight gains on Wall Street. The benchmark S&P/ASX 200 fell below the 8,850 mark, dragged down by weakness in gold and energy shares.
The S&P/ASX 200 dropped 5.30 points, or 0.06 %, to 8,825.70 after touching an intraday low of 8,812.50. The broader All Ordinaries index slipped 6.30 points, or 0.07 %, to 9,030.70, following a modest decline on Monday.
Among the major miners, Fortescue edged higher by 0.5 %, while Mineral Resources and Rio Tinto each lost nearly 1 %. BHP Group was unchanged.
Energy stocks were mostly weaker. Beach Energy fell almost 1 % and Origin Energy slipped roughly 2 %, with Woodside Energy and Santos each down more than 1 %.
Technology shares showed mixed results: Block (Afterpay’s parent) and Appen each slipped 0.3‑0.5 %, Zip rose 0.2 %, WiseTech Global surged over 5 %, and Xero gained more than 1 %.
Gold miners generally declined. Evolution Mining and Resolute Mining each lost more than 3 %, Northern Star Resources fell nearly 3 %, Newmont dropped about 1 %, and Genesis Minerals declined over 1 %.
The big‑four banks were little changed: Commonwealth Bank and Westpac gained 0.1‑0.2 %, while ANZ and National Australia Bank remained flat.
In foreign exchange, the Australian dollar traded at US$0.695 on Tuesday.
On Wall Street, shares advanced for the most part on Monday after the long Independence Day weekend, with all major indexes posting gains. The Dow Jones Industrial Average notched a new record closing high.
The Nasdaq Composite led the advance, jumping 288.49 points, or 1.1 %, to 26,121.16. The S&P 500 rose 54.19 points, or 0.7 %, to 7,537.43, and the Dow added 155.84 points, or 0.3 %, to 53,055.91.
Meanwhile, major European markets ended the session mixed. Germany’s DAX added 0.2 %, while France’s CAC 40 and the UK’s FTSE 100 each slipped 0.3 %.
Crude oil prices edged lower on Monday as tanker traffic through the Strait of Hormuz picked up and OPEC agreed to raise output. August‑delivery West Texas Intermediate fell $0.15, or 0.22 %, to $68.54 a barrel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
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