Australian Shares Start the Week Lower

The S&P/ASX 200 fell 0.2% to around 9,060 in early Monday trade, extending losses from the previous session, as investors turned cautious amid renewed US tariff uncertainty. Over the weekend, President Donald Trump said global tariffs would be raised to 15% from 10%, even after the Supreme Court struck down a large part of his earlier trade measures. Heavyweight miners were mixed, with Rio Tinto down 2.3%, while BHP Group up 0.9%. Energy stocks mostly weighed amid lower oil prices, led by Woodside Energy and Santos, dropping 1.5% and 3.8%, respectively. Healthcare firms and technology shares also traded in the red. On the upside, gold miners led the gains as bullion rose, benefiting from safe-haven demand amid renewed tariff concerns. Sector leaders Newmont, Northern Star, and Evolution Mining climbed between 1.7% to 2.6%. Top lenders Commonwealth Bank and National Bank added 0.3% and 0.5%, respectively.

The S&P/ASX 200 ended roughly 0.1% lower on Friday, snapping a four-session winning run, but still gained 1.8% for the week, its second weekly advance, as strong corporate earnings underpinned sentiment, with banks helping limit the day’s losses. Upbeat results came from heavyweight names such as BHP and National Australia Bank, while investors now turn their attention to upcoming earnings from Woodside Energy, Woolworths, Coles and Qantas. During the week, stocks that exceeded expectations were rewarded, with QBE Insurance Group surging sharply, while disappointing results weighed on peers such as Suncorp Group. On the day, banking stocks led the advance, up 0.7%, while tech shares and heavyweight miners mostly weighed. The world’s largest iron ore producer, Rio Tinto, finished 3.1% lower, after it reported annual earnings that fell short of expectations a day earlier, while logistics software provider WiseTech Global dropped 3.8%.

The S&P/ASX 200 slipped 0.2% to around 9,060 in early Friday deals, snapping a four-session winning streak, weighed down by losses in heavyweight miner Rio Tinto. The world’s largest iron ore producer tumbled as much as 3% after it reported annual earnings that fell short of expectations a day earlier. Even so, the broader mining sub-index rose 0.4%, supported by strength in other major names. BHP climbed about 1%, while gold producers rallied amid higher bullion prices driven by heightened geopolitical tensions. QBE Insurance also jumped after exceeding full-year profit forecasts on improved claims and investment income. The financial sector hovered near record levels, as weakness in Commonwealth Bank offset gains in Westpac and ANZ. Meanwhile, local tech stocks mostly weighed on the index, retreating 2.6%, mirroring overnight weakness on Wall Street. Still, the benchmark index is headed for its second weekly gain, as upbeat corporate earnings season continued to propel the market.