The Australian sharemarket fell on Monday as investors weighed a flurry of local corporate results ahead of a closely watched Reserve Bank of Australia interest rate decision on Tuesday.
The S&P/ASX 200 declined 31.0 points, or 0.3%, to 9,232.6, despite seven of the 11 sectors finishing higher.
Westpac led losses among the heavyweight banks, falling 5.9% after reporting statutory net profit after tax of A$1.8 billion for the three months ended June 30, down 5% from a year earlier.
The lender also reported a 20% decline in mortgage applications in its third quarter, as the combined impact of federal budget tax changes and three interest rate increases began to weigh on demand.
Commonwealth Bank fell 2.1%, National Australia Bank declined 2.4%, and ANZ slipped 1.7%.
The communications sector led gains, with Telstra rising 0.4%, REA Group adding 1.1% and SEEK climbing 6.9%.
Car Group was the strongest performer on the index, gaining 9.9% after reporting a 14% increase in net profit for the year ended June 30.
In company news, FleetPartners surged 12.1% after rejecting a A$3.60-a-share takeover offer from SG Fleet and reporting that it had received a A$3.80-a-share offer from Element Fleet Management over the weekend.
Arena REIT plunged 22% to lead declines after childcare operator Edge Early Learning, one of its lessees, failed to pay its August rent. The A$1.3 billion property fund subsequently delayed the release of its results.
On the bond markets, the 10-year yield was little changed at 4.969%, while the 2-year yield fell 0.2% to 4.566%.
