Australian Shares Slip as Mining Stocks Weigh, Inflation Data in Focus.

Mon 24 Mar 25, 01:30 AM | Team Kalkine

The Australian stock market opened lower on Monday, dragged down by losses in mining stocks amid softer commodity prices. The S&P/ASX 200 index (XJO) fell 0.3% to 7,905.4 points, reversing Friday’s 0.2% gain.

Market participants are closely watching the upcoming inflation data, set for release on Wednesday, which could offer insights into the Reserve Bank of Australia's (RBA) potential interest rate trajectory ahead of its 1 April 2025 decision. The central bank had previously indicated that more positive inflation trends were needed before considering further rate cuts.

The materials sector (XMM) led the market downturn, sliding nearly 1% as iron ore and copper prices weakened. Major miners Rio Tinto (ASX:RIO), BHP Group (ASX:BHP), and Fortescue (ASX:FMG.) declined between 0.4% and 1.2%. Gold stocks (XGD) also retreated, shedding 0.7%, as a stronger U.S. dollar pressured bullion prices. Northern Star Resources (ASX:NST) slipped 0.4%.

Amid the broader market decline, financial stocks (XFJ) provided some support, rising 0.3%. Australia’s ‘Big Four’ banks—Commonwealth Bank, Westpac, ANZ, and NAB—gained between 0.02% and 0.6%.

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