Australian shares end slightly lower as gold miners slide
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The news: Australian shares closed marginally lower in the final full trading day of the year as miners led losses.
The benchmark ASX 200 index ended 8.6 points, or 0.10%, lower at 8,717.1. Five of the 11 sectoral indices were in negative territory.
Materials (-1%) was the worst performing sector as gold miners gave back gains from the previous session after spot gold prices tumbled overnight. Newmont (-4.1%), Catalyst Metals (-4%) and Evolution Mining (-3.4%) were worst hit.
Energy (+0.8%) was the top performing sector as oil giants Santos (+1.7%) and Woodside Energy (+1.3%) drove gains.
Other news:
- Origin Energy (+1.2%) — will invest $210 million in its part-owned energy software platform Kraken Technologies, as part of Kraken's first standalone equity raise of $1.5 billion.
- DroneShield (-0.3%) — received an $8.2 million contract from an unnamed western military government department.
- BlueScope (+0.7%) — exchanged contracts with one of Australia's largest home builders for the sale of 33 hectares of residentially zoned land in West Dapto, NSW, for $76 million.
What's ahead:
- The ASX will close early at 2:10pm AEDT on Wednesday, the final trading day of the calendar year.
