The S&P/ASX 200 index fell for a fourth consecutive day, dropping 0.73% to 8,607.4 points, with uranium producer Paladin Energy (ASX:PDN) among the bottom-performing stocks.
Paladin’s share price slid 8.35% to $11.64, while gold producer Miramar Resources (ASX:M2R) fell 16.67% to $0.003 per unit in the first hour of trading on the Australian Securities Exchange.
Nelson Resources (ASX:NES) dropped 10% to $0.005 per unit, while Viking Mines (ASX:VKA) declined 8.33% to $0.011 per share.
The index had earlier recovered for the first time on 1 May, ending an 11-day losing streak. After a 0.29% decline between 20 and 21 April, it fell a further 0.44–0.45% between 22 and 23 April. A 0.29% fall on 24 April was followed by a sharper slump of 0.62% on 27 April, taking the index to 8,732.1 points. Losses continued on 28 April (down 0.74% to 8,701.1), 29 April (down 0.47% to 8,670), and 30 April (down 0.4% to 8,652.1).
The benchmark more recently dropped on 8 May (down 0.98% to 8,658.6), 11 May (down 0.93% to 8,795.7), 12 May (down 1% to 8,881.1 points), and 13 May (down 0.06% to 8,696.3).
“Over the last five days, the index has lost 2.12% and 1.23% year to date,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” in 2025 despite “concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts agree that the Iran-Israel conflict has created significant investor uncertainty across the ASX index.
“We are obviously still underperforming our other global counterparts, despite what has otherwise been a pretty good week,” Capital.com senior market analyst Kyle Rodda tells the Australian Associated Press.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
