Business · Markets · 7 hrs ago
ASX 200 falls as mining losses outweigh gains in banks and communications
The ASX 200 fell 0.13% to 8,795.2 points last week, even though eight of its 11 sectors rose.
The index tracks shares listed on Australia's main stock exchange.
Materials stocks dropped 7.69%, the steepest fall among the sectors and enough to pull the overall index down.
BHP, the index's largest company, fell 8.3% to a five-month low after reporting mixed first-quarter results, while copper prices also weakened.
Government forecasts say commodity prices are expected to peak in the 2026-27 financial year and then ease.
Financial and communications shares each gained about 4%, led in part by rises in major banks and companies including Telstra.
The figures cover last week; no further market outlook or next step is given.
The S&P/ASX 200 fell 0.13% last week to 8,795.2 points.
Losses in materials and mining outweighed gains in other sectors, with materials down 7.69%.
Communications and financial shares rose about 4% each, leading the market’s sectors.
BHP shares fell 8.3% to $55.05, a five-month low.
Eight of the 11 sectors rose over the five trading days.
- Who
- The S&P/ASX 200 and its listed companies.
- What
- The index fell 0.13% to 8,795.2 points as losses in materials and mining outweighed gains elsewhere.
- When
- Last week, over five trading days.
- Where
- The Australian Securities Exchange (ASX).
- Why
- The materials sector fell 7.69%, dragging the index lower despite gains in eight sectors.
This story does not have two clearly opposing sides.
The ASX 200 fell 0.13% over five trading days, while communications and financial shares rose about 4%.
Telstra shares closed at $4.95, while BHP shares closed at $55.05, a five-month low.
- ASX 200
- Fell 0.13% to 8,795.2 points
- Materials sector
- Fell 7.69%
- Communications sector
- Rose 4.04%
- Financials sector
- Rose 4.02%
- BHP shares
- Fell 8.3% to $55.05, a five-month low