ASX 200 closes lower as banks drag and miners BHP, FMG, RIO lift the bourse

June 27, 2025 06:06 PM AEST | By Team Kalkine Media

ASX 200 closes lower as banks drag and miners BHP, FMG, RIO lift the bourse — Image source: Shutterstock

BHP Group, Fortescue Metals, and Rio Tinto Power Resource Rally

The standout performance came from heavyweight miners BHP Group Ltd (ASX:BHP), Fortescue Metals Group Ltd (ASX:FMG), and Rio Tinto Ltd (ASX:RIO). These stocks staged a notable rebound, following extended softness in prior sessions. Sentiment turned more optimistic in late trade, lifting the broader materials sector.

Sandfire Resources Ltd (ASX:SFR) also contributed to gains, with strong afternoon buying interest observed across the copper and iron ore segments.

CBA, NAB, ANZ and Westpac Lead Financial Declines

Commonwealth Bank of Australia (ASX:CBA), National Australia Bank Ltd (ASX:NAB), Australia and New Zealand Banking Group Ltd (ASX:ANZ), and Westpac Banking Corporation (ASX:WBC) each moved lower, dragging on the financial sector and offsetting broader market gains.

Despite early support, banking shares struggled to sustain upward momentum. Market participants closely watched yield curves and broader economic updates, which added pressure to the sector heading into the weekend.

Mixed Sector Performance Amid Choppy Afternoon Trade

Beyond banks and miners, broader sectoral moves were mixed, with some areas of the ASX 100 index showing resilience. However, sentiment across the mid and small-cap names was subdued, with volumes tapering later in the session.

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