ASX ends lower as tech drags
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The news: The Australian sharemarket ended lower tracking a slide on Wall Street spurred by poor earnings from big tech.
The numbers: The benchmark ASX 200 dropped 1.29% to end at 7,861.2, with all 11 sectors ending in red.
The worst performing sector was IT, down 2.68%, followed by consumer discretionary (-1.95%).
Regis Resources, down 9.29%, was the worst performer across the ASX 200 despite flagging that it had met its full-year production and cost guidance. However, output came in lower than the previous year and at a higher cost.
Fortescue shares fell 5.16% after the metal miner fell short of its full-year production guidance.
Macquarie Group shares fell 3.61% off the back of reporting flat earnings for 1Q25 after its markets-facing business saw a profit decline.
Sandfire Resources shares lowered 2.96% despite achieving its full-year production guidance and lifting group output for the June quarter. Analysts, however, said its zinc output was a miss and its copper production costs were higher-than-expected.
Karoon dropped 2.79%, paring back earlier gains, after announcing a $38 million buyback and a new capital returns policy. However, it flagged a fall in production and revenue.
Seek's share price took a 1.61% hit after flagging a $141 million impairment charge relating to its investment in Chinese business Zhaopin.
Ampol shares sank XX% after flagging weaker first-half earnings due to lower sales volumes and refinery production in the June quarter.
ANZ fell 1.12% after it flagged "unacceptable failure" amid investigations into its data reporting processes, allegations around a 2023 bond transaction, and conduct and behaviour matters within its Sydney dealing room.
Elsewhere, Arafura plunged 13.16% after closing a $20 million institutional placement that was a 15.7% discount to its last closing price.
The best performing sector was consumer staples, down 0.6%, followed by financials (-0.79%).
Coronado Global Resources rallied 5.6% after announcing its June quarter production rose 24% from the prior quarter to 7.4 million tonnes.
Newmont gained 1.71% after it reaffirmed its full-year production guidance after lifting second quarter profit on the back of improved production and higher prices.
Elsewhere, Insignia ended 0.75% higher as it appointed Dave Woodall as CEO of its superannuation arm.
The Australian dollar is lower buying 65.47 US cents.
The context: Tonight will see the latest US GDP figures released that will give clues for the US Federal Reserve’s next interest rate decision.
Friday will see Mineral Resources post earnings.
