15.12.202500:44:08UTC+00Australian Shares Start the Week Lower

The S&P/ASX 200 declined by 0.8% to 8,628 on Monday, reversing the gains experienced in the previous week. This downturn was primarily driven by significant losses in the materials sector. Major mining companies saw their stocks tumble, with BHP Group suffering a 2.5% decrease and Rio Tinto falling by 1.4%. Gold producers were also notably affected, as Newmont Corporation dropped 2.1%, Northern Star Resources decreased by 2.2%, and Evolution Mining fell by 2%. These losses were largely attributed to weaker commodity prices, notably in copper and silver. Additionally, ASX Ltd experienced a sharp decline of 4.8%, reaching its lowest level since October 2023, following a decision by Australia’s corporate regulator to impose an additional charge of A$150 million (approximately US$99.7 million). This led the company to reduce its dividend payout. In the broader market, investors are keenly anticipating pivotal economic data due later in the week, including preliminary PMI readings, inflation expectations, and housing market indicators.