The Australian sharemarket began the week lower, with the S&P/ASX 200 down 0.7% (53 points) to 7957 by midday, following weaker-than-expected US payroll figures. US non-farm payrolls missed forecasts by 23,000, fueling concerns about a global economic slowdown. Banks and energy stocks led the decline, with major banks like Westpac, Commonwealth Bank, and NAB down around 1%. Iron ore prices briefly dipped below $90 a tonne, although mining giants Rio Tinto and BHP remained largely unaffected.

In corporate news, Premier Investments fired Smiggle’s managing director, John Cheston, for serious misconduct. The company’s stock fell 4.7%, adding to losses from a weak trading update. Meanwhile, Westpac appointed Anthony Miller as its new group CEO, with shares dropping 1.3%.

Charter Hall Retail REIT and Host Plus bid for Hotel Property Investments, pushing HPI shares up 4.9%. Fast-food chain Guzman y Gomez surged 5.3% ahead of its inclusion in the S&P/ASX 200 index. Finally, Domino’s Pizza fell 2.3% after facing a class action from shareholders.