Australian shares dip again, hitting six-week low | Australian Markets

The Australian share market has fallen for a seventh day of losses out of the final eight classes – at the same time as home month-to-month inflation figures got here in slightly below expectations, bolstering expectations for an additional home price cut.

The benchmark S&P/ASX200 index on Wednesday dropped 11.2 factors, or 0.14 per cent, to eight,240.7, whereas the broader All Ordinaries fell 20.7 factors, or 0.24 per cent, to eight,477.3.

The ASX did handle to claw back a little of its losses after the Australian Bureau of Statistics reported that shopper costs rose 2.5 per cent within the 12 months to January, unchanged from a month earlier and a tad under consensus estimates of 2.6 per cent inflation.

Betashares chief economist David Bassanese mentioned the report was good news for these hoping for an additional Reserve Financial institution price cut in Could.

5 of the ASX’s 11 sectors completed decrease on Wednesday and 6 ended larger.

Supplies/mining was the largest mover, dropping 1.6 per cent as Rio Tinto fell 3.4 per cent to $115.02, BHP misplaced 1.5 per cent to $39.71 and Fortescue retreated 6.2 per cent to $16.86.

In shopper staples, Woolworths slumped 3.0 per cent to a five-day low of $30.60 after the grocery store chain introduced its first-half revenue had fallen 20 per cent to $739 million.

Woolies mentioned the loss was pushed by the 17-day strike at 4 of its distribution centres within the lead up to Christmas, in addition to “value-seeking customer behaviour”.

Within the shopper discretionary sector, Pointsbet soared 32.5 per cent to a three-year high of $1.10 after the company bookmaker mentioned it had agreed to be acquired for $353 million by Japan-based MIXI, which in Australia operates the BetM wagering model.

After the deal was introduced, betr operator BlueBlue reiterated that it had an offer on the desk.

Elsewhere within the sector, Helloworld Journey and Flight Centre each dropped by double digits after releasing their earnings.

Helloworld fell 19.0 per cent to $1.66 after reporting that bookings fell 6.9 per cent to $2.1 billion, whereas Flight Centre retreated 10.2 per cent to $15.92 after posting a 26.6 per cent drop in revenue.

In tech, Appen plunged by a third to a four-month low of $1.92 after the AI service supplier mentioned its 2024 income was down 14 per cent to $234.3 million, and its massive language model project volumes have been monitoring decrease in 2025 than they have been within the fourth quarter.

Wisetech International rose 2.1 per cent to $96.50 after founder Richard White re-took control of the company, changing into its government chairman after the resignation of two-thirds of its board on Monday following a dispute with Mr White over his position.

Additionally shifting on the back of incomes bulletins was auto elements company Bapcor (up 13.4 per cent), resort commerce platform Siteminder (down 11.8 per cent), bus operator Kelsian Group (down 15.2 per cent), pathology chain Australian Medical Labs (down 11.6 per cent), radiology company Integral Diagnostics (down 12.2 per cent) and playing machine producer Mild & Marvel (up 7.8 per cent).

All of the large 4 banks completed larger, with ANZ up 1.4 per cent to $29.75, CBA gaining 1.3 per cent to $156.26, Westpac including 0.8 per cent to $31.51 and NAB rising 0.4 per cent to $35.53.

Michael Hill dropped 5.4 to a nine-month low of 44 cents after the jewelry store chain introduced its chief government and managing director, Daniel Bracken, had died unexpectedly in a single day.

In currency, the Australian greenback was shopping for 63.25 US cents, from 63.55 US cents at 5pm AEDT on Monday.

ON THE ASX:

* The benchmark S&P/ASX200 index on Wednesday dropped 11.2 factors, or 0.14 per cent, to eight,240.7

* The broader All Ordinaries fell 20.7 factors, or 0.24 per cent, to eight,477.3

CURRENCY SNAPSHOT:

One Australian greenback buys:

* 63.25 US cents, from 63.55 US cents at 5pm AEDT on Tuesday

* 94.53 Japanese yen, from 95.16 yen

* 60.30 euro cents, from 60.65 euro cents

* 50.05 British pence, from 50.29 pence

* 110.82 NZ cents, from 110.76 NZ cents