The Australian sharemarket extended losses on Wednesday, with the ASX 200 closing at a six-week low as weakness in mining stocks dragged the index lower, while investors monitored a fresh batch of corporate earnings results.
The S&P/ASX 200 fell 11.2 points or 0.1% to 8,240.7, with seven of 11 sectors in negative territory.
Investor concerns over U.S. President Donald Trump’s proposed tariffs and their potential impact on global trade pressured major mining companies, with Rio Tinto down 3.4%, BHP falling 1.5%, and Fortescue sliding 6.2%.
Evolution Mining and Newmont also declined, losing 1.7% and 2%, respectively.
Among reporting companies, Lynas Rare Earths slipped 1.7% after net profit fell sharply to $5.9 million from $39.5 million in the previous period.
Woolworths dropped 3% after reporting a 20.6% fall in first-half net profit.
Platinum Asset Management tumbled 20% as interim earnings slumped by over one-third to $29.9 million.
WiseTech added 2.1% after reporting a 17% year-on-year rise in first-half revenue to US$381 million, driven by its CargoWise logistics platform. The software company also reinstated co-founder Richard White as executive chairman after leadership changes triggered a sharp decline in its stock earlier in the week.
EML Payments rallied 14.6% as the company reported a better-than-expected 1H FY25 result, with revenue increasing 15% to A$115.1 million.
Scentre Group lost 3.3% after the company reported a 3.5% increase in Funds From Operations (FFO) to $1.132 billion for the year ended 31 December 2024.
Worley reported a 55.4% rise in statutory net profit to A$216 million.
Flight Centre sank 10.2% after reporting a 31% fall in net profit after tax (NPAT) for the first half of the 2025 financial year (H1 FY25).
On the bond markets, 10-year and 2-year rates added 0.4% and 0.6% to 4.368% and 3.794%, respectively.
