Australian Equities Extend Slide Ahead of Federal Budget

2026-05-11 01:11 By Farida Husna 1 min. read

Australian stocks slipped 78 points or 0.9% to 8,666 on Monday morning deals, marking losses for the second straight session amid a sharp drop in U.S.

equity futures as tensions between the U.S.

and Iran escalated after President Trump rejected Tehran’s latest peace proposal.

Traders stayed cautious ahead of inflation data in top trading partner China later today.

In March, annual inflation in the country remained near a three-year high, partly reflecting a rebound in transport costs.

Locally, the 2026/27 federal budget will be released on Tuesday, against a backdrop of global energy shocks, surging cost of living, and a national debt edging toward AUD 1 trillion.

Healthcare, consumer durables, financials, and transport led the losses, though gains in process industries and energy minerals helped limit the decline.

Among major decliners were CSL Ltd. (-17.9%), Pro Medicus (-3.2%), and Sigma Healthcare (1.2%).

Meanwhile, the big four banks slipped between 1.8% to 3.3%.



News Stream
Australian Equities Extend Slide Ahead of Federal Budget
Australian stocks slipped 78 points or 0.9% to 8,666 on Monday morning deals, marking losses for the second straight session amid a sharp drop in U.S. equity futures as tensions between the U.S. and Iran escalated after President Trump rejected Tehran’s latest peace proposal. Traders stayed cautious ahead of inflation data in top trading partner China later today. In March, annual inflation in the country remained near a three-year high, partly reflecting a rebound in transport costs. Locally, the 2026/27 federal budget will be released on Tuesday, against a backdrop of global energy shocks, surging cost of living, and a national debt edging toward AUD 1 trillion. Healthcare, consumer durables, financials, and transport led the losses, though gains in process industries and energy minerals helped limit the decline. Among major decliners were CSL Ltd. (-17.9%), Pro Medicus (-3.2%), and Sigma Healthcare (1.2%). Meanwhile, the big four banks slipped between 1.8% to 3.3%.
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