A sell-off in iron ore miners is dragging the Australian sharemarket lower at the start of the week. The S&P/ASX 200 index is down 41 points, or 0.5%, at 7781.6 points as of 2pm.
Australian shares edged down 0.1%, with mining and property stocks trimming recent gains. The healthcare sector outperformed, rising 0.5%, bolstered by gains in CSL, Cochlear, and ResMed. Bank shares declined, with CBA falling 0.5% and Westpac down 0.7%.
Australian shares rose 1% on Thursday afternoon, supported by an ongoing bull market in New York ahead of the Independence Day holiday. Santos shares increased 4% to $8 following reports from Bloomberg that Saudi Aramco and Abu Dhabi National Oil Co are exploring bids for Santos to expand their overseas gas investments. Analysts highlighted potential challenges, including the need for FIRB clearance and control complexities.
Coal miners rally after fire at Met coal project. ASX rises led by materials and energy
Liontown jumps on funding deal with LG. ASX lower due to weak Real Estate
ASX higher on EOFY window dressing. IAG rallies after earnings guidance
Inflation rate rises again. Third month in a ros. ASX lower led by property and consumer discretionary
ResMed tumbles after weight loss drug trial results. ASX continues to sell off
Kathmandu lower on sales warnings. CBA trying to take over BHP as most valuable company
Guzman Y Gomez surges on listing. ASX lower in quiet trade
Gold Miners rally as spot price rises. ASX lower led by tech, energy and materials
Sigma falls on concerns with Chemist Warehouse merger. ASX pushes higher
