The Australian sharemarket ended marginally lower on Wednesday, as heavy selling in technology stocks overshadowed gains across the Materials and Energy sectors.
The S&P/ASX 200 index fell 19.3 points or 0.2% to 8,799.5, with six of the 11 industry sectors finishing in positive territory.
Gold miners continued to shine, buoyed by firmer bullion prices overnight amid expectations that the reopening of the U.S. government and a resumption of economic data releases could strengthen bets for a Federal Reserve rate cut next month.
Northern Star gained 1.4%, Newmont advanced 0.9%, while Evolution Mining rose 2%.
Higher iron ore futures supported the major miners, with BHP up 0.6%, Rio Tinto climbing 2.3%, and Fortescue Metals adding 0.3%.
Mineral Resources led the broader market, soaring 9.2% after agreeing to sell a stake in its lithium business to South Korea’s POSCO for US$765 million (A$1.2 billion).
Lithium producers also posted strong gains, led by Liontown Resources, which jumped 6.1% to its highest level since June 2024 after forming a partnership with Metalshub to conduct digital spodumene auctions.
Energy shares benefitted from higher crude oil prices overnight, lifting Woodside by 1.4% and Santos by 1.7%.
The technology sector was the weakest performer, sliding 3.3%. Life360 tumbled 13.1% after its latest trading update showed slower-than-expected user growth, despite strong quarterly results.
Xero lost 2.2%, WiseTech Global fell 0.8%, and TechnologyOne lost 2%.
Among other notable movers, Aristocrat Leisure slumped 7.5% even after reporting a 9% rise in net profit to $1.6 billion, as its interactive division, which includes the NeoGames acquisition, underperformed expectations.
Flight Centre gained 1% after forecasting FY26 underlying profit before tax of between $305 million and $340 million, a 5.5% to 17.6% improvement on the prior year
In contrast, ARN Media plunged 9.6% after warning that full-year EBITDA would be 25% to 27% below last year’s levels.
On the bond markets, yields ticked higher, with 10-year and 2-year government bond rates up 0.3% to 4.382% and 3.64%, respectively.
