The Australian stock market is trading lower on Monday with investors pressing sales, tracking cues from Wall Street where stocks ended notably lower on Friday following the release of some disappointing economic data.
Energy and mining stocks are mostly trading sharply lower. Consumer discretionary, property trusts, financial and industrial stocks are also trading weak.
The benchmark S&P/ASX 200 index, which declined to 4,743.3, is currently down 41.4 points or 0.9 percent at 4,750.4. The broader All Ordinaries index is down 40.2 points or 0.8 percent at 4,735.3.
Among miners, BHP Billiton (BHP) is down 1.8 percent, Rio Tinto (RIO) is down with a loss of 1.9 percent, while Fortescue Metals and Newcrest Mining are trading lower by over 2.5 percent.
In the energy sector, Caltex Australia is down nearly 3 percent, Woodside Petroleum is down 1.8 percent, Santos is trading 1.6 percent down, Oil Search is down with a loss of 1.5 percent and Origin Energy is declining 0.7 percent.
Among bank stocks, Westpac (WBK) is down 1 percent, National Australia Bank is trading 0.6 percent down and Commonwealth Bank of Australia is down marginally, while ANZ Bank is trading flat. Bendigo & Adelaide Bank and Bank of Queensland are down 1.3 percent and 1 percent, respectively.
Lend Lease Group shares are down nearly 8 percent. The company has announced that it is restructuring its Australian construction and infrastructure business, through the consolidation of its Abigroup, Baulderstone, Project Management & construction and Infrastructure Services businesses.
The strengths of these four businesses will be transitioned into sector-based businesses one business in each of the building, engineering and infrastructure services sectors, the company said.
Lynas Corp. is down 5.3 percent. Regis Resources, Aurora Oil & Gas, Amcor, Bluescope Steel, Computershare and Arrium are trading lower by 2.5 to 3.6 percent.
ALS, Carsales.Com, Beach Energy, Whitehaven Coal, Sims Metal Management, PanAust, Mineral Resources, Incitec Pivot and WorleyParsons are all trading lower by 2 to 2.4 percent.
In the currency market, the Australian dollar opened lower against the U.S. dollar. In early trades, the local unit was quoting at US$0.9564, down 0.3 percent from Friday's close of US$0.9594.
On Wall Street, stocks ended weak on Friday, with investors reacting to a disappointing report on industrial production in May and an unexpected deterioration in consumer sentiment in June. The lowering of U.S. economic growth forecast by the International Monetary Fund too weighed on sentiment.
The Dow ended the day down 105.9 points or 0.7 percent at 15,070.2, the Nasdaq dropped 21.8 points or 0.6 percent to 3,423.6 and the S&P 500 slipped 9.6 points or 0.6 percent to 1,626.7.
Major European markets ended higher on Friday. While the German DAX index advanced by 0.4 percent, the French CAC 40 index and the U.K.'s FTSE 100 index edged up by 0.2 percent and 0.1 percent, respectively.
U.S. crude oil ended sharply higher for a third straight session on Friday, with increased tensions in the Middle East fuelling supply concerns after the U.S. administration indicated it would arm the Syrian rebels fighting President Bashar al-Assad's regime.
Crude for July delivery jumped $1.16 or 1.2 percent to close at $97.85 a barrel on the New York Mercantile Exchange.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.