AU Evening Wrap: Australia Shares Edge 0.1% Higher, But Log Monthly Loss

$S&P/ASX 200(.XJO.AU)$ closed 0.1% higher at 6780.7, paring its recent losses but still completing its largest monthly fall since September 2022. The benchmark index rose 0.6% in early trade following strong gains by U.S. equities, but weakness in shares of iron-ore, gold and lithium miners steadily dragged it close to parity.

Iron-ore giants $Rio Tinto Ltd(RIO.AU)$ and $BHP Group Ltd(BHP.AU)$ gave up between 0.6% and 1.35%, respectively. Lithium stocks $Pilbara Minerals Ltd(PLS.AU)$, $Allkem Ltd(AKE.AU)$, $Mineral Resources Ltd(MIN.AU)$ and $Sayona Mining Ltd(SYA.AU)$ shed between 3.9% and 7.4%.

The financial sector pared the overall losses, adding 0.7%. Banks $CommBank(CBA.AU)$ , $National Australia Bank Ltd(NAB.AU)$, $ANZ Group Holdings Ltd(ANZ.AU)$ and $Westpac Banking Corp(WBC.AU)$ put on between 0.35% and 0.7% despite continuing uncertainty over whether the Reserve Bank will raise interest rates next week.