AUS
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UK
CA
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IND
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Highlights
Australian shares moved slightly higher in morning trade, led by strength in energy and materials
BHP rose as it maintained full-year production guidance despite mixed quarterly output
US market weakness weighed on sentiment after a tariff-related warning from the Federal Reserve
The Australian sharemarket edged higher in early trade, with gains across the energy and materials sectors supporting the broader index. The initial session strength came as traders weighed global trade developments ahead of the Easter long weekend.
The benchmark S&P/ASX 200 index posted modest gains in the first half hour, with energy and mining counters offsetting weakness across financials, healthcare and technology segments. Trade volumes were lower, as many participants remained cautious amid broader geopolitical concerns.
Mixed performance across resource majors
Resource heavyweight BHP advanced after keeping its full-year production guidance unchanged. The miner released mixed third quarter results, with stronger performance in some segments and softness in others. Shares in Rio Tinto also rose, while Fortescue Metals Group traded lower in contrast to its larger peers.
The sector benefited from firmer commodity prices and stable operational updates from several producers. Demand indicators for iron ore and base metals continued to support activity in the space.
Energy shares firm on company-specific news
Gains in the energy sector were among the strongest in the early session. Woodside and Santos both rose, following updates viewed favourably by the market. Upbeat developments in project timelines and production forecasts helped drive buying interest in these names.
Oil-linked stocks outperformed as crude benchmarks remained elevated due to supply-related concerns globally. Australian producers were seen tracking these gains on the domestic exchange.
Financials and healthcare under pressure
The financial sector saw a mixed performance, with only half of the major banks trading higher in early activity. Market participants reacted to global cues, particularly the decline in US banking shares after regulatory commentary on capital requirements.
Healthcare names were also lower, reversing earlier gains from the previous session. Broader sentiment across the sector remained subdued amid global market weakness and currency headwinds.
Technology stocks retreat after US sell-off
Technology names fell in early trade following sharp losses in the US. Weakness across global chipmakers and software stocks extended into local markets, with investors reacting to a downgrade from a major US tech company and concerns about new tariffs.
Australian-listed tech shares mirrored overnight moves, reflecting cautious outlooks and external pressures. The broader tech segment lagged the main index during the morning session.
Global trade uncertainty weighs on sentiment
Earlier, Wall Street declined after a statement from the Federal Reserve Chair highlighted the economic impact of trade measures. This included concerns about how tariffs could slow economic activity and impact company earnings.
The US tech sector led losses overnight following an impairment from a leading chipmaker. These developments created a cautious tone heading into the Australian session, with market participants awaiting further updates on trade and monetary policy.
