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-- 119.210 AU Evening Wrap: Australia Shares Fall 0.5% as Mining Sector Weakness Persists
Market Performance
Australia's benchmark index, the $S&P/ASX 200 (.XJO.AU)$, closed 0.5% lower at 7715.5 due to continued weakness in the mining sector. The global market is waiting for the U.S. Federal Reserve's latest interest-rate decision, which kept the index in negative territory throughout the session. The losses this week have reached 1.8%.
$BHP Group Ltd (BHP.AU)$, $Fortescue Ltd (FMG.AU)$, and $Rio Tinto Ltd (RIO.AU)$ recorded losses between 0.55% and 1.5% due to declining iron-ore and copper prices. Gold miners' shares also fell, extending their recent losses.
The banking sector, including $ANZ Group Holdings Ltd (ANZ.AU)$, $National Australia Bank Ltd (NAB.AU)$, and $CommBank (CBA.AU)$, lost between 0.4% and 0.7%.
The energy sector was the only gainer among the ASX 200's 11 sectors, adding 1.0%, backed by strength in oil explorers and producers.
Top News
China's Consumer Price Index Stable in May, Missing Economists' Expectations
China's National Bureau of Statistics released data on Wednesday indicating that the country's consumer price index remained stable in May compared to April. During the month, the index rose 0.3% year over year, which was below the 0.4% increase forecasted by Reuters economists.
Woodside Energy Commences Senegal Offshore Oil Production
Woodside Energy has achieved a significant milestone in Senegal, as it announced the commencement of oil production from the Sangomar field offshore. This marks the first offshore oil delivery for the country. As the operator of Sangomar, Woodside holds an 82% participating interest in the project, while Societé des Petroles du Sénégal holds the remaining 18%.
Source: Dow Jones Newswires, AFR, ASX
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