The Australian sharemarket finished Thursday’s session little changed, as investors remained cautious amid a sell-off in energy stocks.
The S&P/ASX 200 index closed up just 3 points at 8,588.2, with six of the 11 sectors ending the day higher.
Energy was the weakest sector, weighed down by losses in major oil and gas producers. Woodside Energy fell 2.7% after the company announced chief executive Meg O’Neill would depart to take on the top job at global energy giant BP.
Santos outperformed the sector, rising 1% after receiving $1 billion from Fluor Australia following a Queensland Supreme Court ruling in its favour.
Uranium stocks were also under pressure. Boss Energy plunged 24.6% to a four-year low after downgrading its Honeymoon project in South Australia, while Paladin Energy fell 4.8%.
Among individual stocks, Bendigo Bank dropped 1.5% after Australia’s financial crimes regulator, AUSTRAC, confirmed it was investigating the lender’s compliance with anti-money-laundering rules following the arrest of four people.
Bapcor was the standout performer on the index, surging 146% after the resignation of chief executive Angus McKay less than 18 months into the role.
BetMakers gained 5.7% after securing a multi-year agreement with Stake to supply its RaceOdds+ platform, as the online wagering operator expands its global horse racing offering.
On the bond markets, yields were mixed. The 10-year rate edged up 0.1% to 4.747%, while the 2-year yield fell 0.3% to 4.011%.
