The Australian sharemarket finished little changed on Thursday as weakness in the mining and energy sectors offset gains elsewhere, with BHP weighing on the index after lowering its copper production outlook, while communication services pushed higher.
The S&P/ASX 200 Index edged down 0.40 points to 8,840.7, with eight of the 11 sectors closing higher.
The Materials sector was the weakest performer, led by BHP, which fell 2.3%, surrendering most of Wednesday's strong gains after warning copper production would decline over the coming financial year.
The miner said an unexpected mechanical failure at one of its South Australian operations, combined with lower ore grades at its Chilean mines, would reduce copper output to between 1.65 million and 1.8 million tonnes in the year ahead, down from 1.95 million tonnes produced over the past year.
Elsewhere among the major miners, Rio Tinto slipped 0.4%, while Fortescue lost 1.1%.
Energy stocks also weakened as crude oil prices eased modestly despite ongoing U.S. military operations against Iran aimed at securing shipping routes through the Strait of Hormuz.
Santos fell 1.8%, Woodside Energy declined 1.5%, and Viva Energy eased 0.9%.
Communication services outperformed, with REA Group surging 6.6%, Seek Limited adding 1.3%, TPG Telecom up 1.4%, and Telstra finishing 0.4% higher.
Among individual stocks, AMP was the best performer on the benchmark index, soaring 9.8% after the wealth manager upgraded its first-half underlying profit guidance to between $170 million and $180 million. The company cited continued momentum across its China partnerships and stronger investment income.
TechnologyOne added 1.2% after maintaining its upgraded FY26 guidance, forecasting profit before tax growth of between 18% and 20% and annual recurring revenue growth of 16% to 18%.
The software company also announced a significant expansion of its executive leadership team, creating four new senior management roles across its core industry divisions.
Ora Banda Mining slipped 0.9% after forecasting lower gold production for FY27. The miner expects output of between 125,000 and 140,000 ounces at an all-in sustaining cost of $3,400 to $3,600 per ounce.
On the bond markets, the Australian 10-year government bond yield rose 0.2% to 4.898%, while the two-year yield fell 0.4% to 4.501%.
