Australian shares have reversed early gains to trade lower as the S&P/ASX 200 slipped 11 points to 8324 in late afternoon trade. After opening 0.3% higher, the index lost momentum by midday. Commonwealth Bank weighed on the market, falling 1% after briefly setting a record high above $157.

Australian shares retreated from record highs as geopolitical tensions dampened investor sentiment. The S&P/ASX 200 Index fell 31 points, or 0.4%, to 8351.6, with energy stocks leading declines, down 1%. Santos dropped 1%, weighing on the sector.

The Australian sharemarket reached a new high on Tuesday, as the S&P/ASX 200 Index climbed 1.3%, or 108.9 points, to 8409.1 by mid afternoon, breaking above the 8400 threshold for the first time. All 11 sectors traded higher, led by strong performances in technology and energy stocks.

The Australian sharemarket remained flat early Monday afternoon, with the S&P/ASX 200 steady at 8285.5 points after slipping 0.1% last week. Gains in commodity-linked stocks balanced declines in health and technology sectors.

Australian shares edged higher at midday, with the S&P/ASX 200 Index rising 0.3% (24.7 points) to 8248.7, buoyed by gains across 10 of 11 sectors. Utilities led, with APA Group advancing 3.2% after reiterating its FY2025 EBITDA guidance, supported by a Q1 revenue increase to $256.4 million from $237.6 million.

A rally in technology and major banks lifted the Australian sharemarket, with the S&P/ASX 200 Index rising 0.2% (14.1 points) to 8207.5. Gains in six of eleven sectors were led by a 5.9% surge in Xero, which reported a 51% rise in EBITDA to $311.7 million and a 76% increase in net profit to $95 million for the half-year. Major banks were all in the green, with Commonwealth Bank up 1.3%.