The Australian sharemarket edged lower on Monday as losses in the Energy, Financials, and Utilities sectors outweighed strength in Information Technology.
The S&P/ASX 200 Index fell 21.6 points, or 0.2%, to 8,849.6, with seven of the index’s 11 sectors trading in negative territory.
Energy stocks led declines after crude prices dropped 2.2% on Friday, although some of those losses were retraced in Monday’s trade.
Woodside Energy slid 1.2%, Santos dropped 2.7%, and Beach Energy fell 1.7%.
Financials were also under pressure, with NAB down 0.8%, Westpac off 0.6%, and ANZ slipping 1%. Commonwealth Bank bucked the trend, inching up 0.1%.
Ex-dividend names, including Super Retail and Cash Converters, also weighed on the bourse, finishing 2.4% lower apiece.
Technology companies lifted with Xero up 1.3%, and WiseTech Global adding 1.9%.
In company news, Coles lost 0.8% after estimating up to an additional A$250 million in combined backpay liabilities following a Federal Court ruling.
Mayne Pharma tumbled 14.8% amid concerns its proposed takeover by U.S. healthcare firm Cosette could be blocked by the South Australian government.
Meanwhile, DroneShield jumped 5.3% after confirming it will soon join the ASX 200.
On the bond markets, yields eased, with the 10-year falling 0.5% to 4.285% and the 2-year dipping 0.03% to 3.369%.
