Australian shares closed lower for a second consecutive session on Tuesday as United States President Donald Trump’s tariff threats over Greenland continued to weigh on global risk sentiment.
The S&P/ASX 200 Index fell 58.6 points or 0.7% to 8,815.9, with seven of the index’s 11 sectors finishing in the red.
The Financial sector led the declines, with Commonwealth Bank down 1.8%, National Australia Bank falling 0.9%, ANZ Group down 1.2% and Westpac declining 1%.
Materials were also weaker overall, pressured by BHP, which fell 2% after the miner revealed higher first-phase costs for its Jansen potash project.
Shares in Rio Tinto and Fortescue Metals also fell 2% and 0.6%, respectively.
Utilities outperformed the market, with Origin Energy jumping 2.6% after announcing it would keep Australia’s largest coal-fired power station, Eraring, operating until 2029.
Investor interest in defence-related stocks remained strong amid heightened geopolitical tensions, with DroneShield climbing 3.3%.
Elsewhere, ARB Corporation plunged 12% after reporting unaudited sales revenue of $358 million for the half-year to 31 December, down 1% on the previous corresponding period.
Hub24 gained 3.1% after the investment platform operator said it remained well positioned for further growth, following December-quarter net inflows of $5.6 billion, up 2% year on year.
Telix Pharmaceuticals rose 1.9% after China’s drug regulator accepted a new drug application for TLX591-Px, its lead prostate cancer imaging agent marketed as Illuccix.
Fletcher Building advanced 1.8% after agreeing to sell its construction division to Vinci Construction for NZ$315.6 million (A$271.85 million).
On the bond markets, yields moved higher, with Australian 10-year and two-year government bond rates up 0.6% and 0.7% at 4.779% and 4.081%, respectively.
