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The ASX 200 has ended the day 0.83% down at 8,410 points.
Weak performances from the banking sector weighed on the market, which was also reeling from news the Whyalla steelworks in South Australia was going into administration after British executive Sanjeev Gupta lost control of the asset.
Also worth mulling was news from the ABS that Oz wages rose 0.7% in the December quarter – that is, the slowest annual pace in nearly three years. They are anticipated to pick up again near term.
The Aussie dollar floated around two-month highs today, at 63.5 cents, bolstered by the RBA’s decision on Tuesday to cut the cash rate by 25 basis points.
To sectors, five were in the red today, led by Energy, down 2.24%, Financial, down 1.92%, and Consumer Staples, down 0.92%.
Health and Utilities led the six greens, up 0.74% and 0.71% respectively.
Mineral Resources (ASX:MIN) was the biggest loser on the bourse today, plummeting more than 20% after yesterday’s disappointing news of an $800 million loss during the first half of the 2025 fiscal year. MinRes closed at $24.18
NAB (ASX:NAB) was also in the red, falling a hefty 8.1% on news of weak earnings in the December quarter. NAB’s share price ended closed $36.30.
And, Santos (ASX:STO) fell 4.49% after reporting a full year result which included a 14% drop in profit based on weaker oil and gas prices. Santos closed at $6.58
In the green, we had Light and Wonder (ASX:LNW), whose share were nearly 10% higher after it acquired charitable gaming assets from Grover Gaming – based in North Carolina – for US$850 million. Light and Wonder ended the day at $168.52.
Fletcher Building Ltd (ASX:FBU) was up more than 7.4% after reporting positive results from its cost-cutting program; revenue did fall 7% in the first half though. Fletcher closed at $3.04
And finally, Corporate Travel Management (ASX:CTD) was more than 10% higher despite reporting its first half profit fell by a third. CTM ended the day at $16.54.
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