Australian equities edged lower on Thursday, with the S&P/ASX 200 index falling 0.1% to 8,831.80.
The broad market decline was driven by losses in the mining and energy sectors, which outweighed gains in financials.
BHP Group was a notable laggard, continuing to weigh on sentiment following its recent warning that copper production could fall by up to 15% in the coming year.
BHP Group was a notable laggard, continuing to weigh on sentiment following its recent warning that copper production could fall by up to 15% in the coming year.
The miner’s shares have retreated sharply since the guidance cut, which was attributed to an unexpected mechanical failure in South Australia and declining ore grades.
The ongoing uncertainty around BHP’s output capacity is keeping pressure on the stock, as investors reassess the company’s near-term supply outlook.
Competitor Rio Tinto also faced selling pressure, reflecting broader caution in the resources sector.