The materials sector widened its losses on Thursday, retreating 1.53% as commodities continued under pressure over whether or not US President Donald Trump will place tariffs on imported Chinese goods.
The S&P/ASX 200 tumbled 51.10 points, or 0.61%, to 8,378.70 points by the closing bell.
Over the last five days, the index has gained 0.62% and is 1.59% off its 52-week high.
Nine of the 11 sectors were in the red by market close on Thursday (23 January). Energy fell 0.63% and industrials retreated 0.56%. Utilities, however, added 0.43%
Miners featured heavily in the S&P/ASX 200 decliners, again headed by mineral sands miner Iluka Resources (ASX:ILU), which wiped off a further 6.47% to $4.63.
Liontown Resources (ASX:LTR) dropped 6.38% to $0.66, Evolution Mining (ASX:EVN) slid 3.91% to $5.66 and Pilbara Minerals (ASX:PLS) retreated 3.74% to $2.32.
Regis Resources (ASX:RRL) was the biggest mover on the index, adding 3.88% to end the session at $3.21 on December 2024 quarter results showing a record cash and bullion build of $149 million, $40 million more than the previous quarterly record.
The continued strength of the gold price and record production from the Tropicana mine enabled Regis to repay its $300 million term loan facility ahead of schedule post-quarter, making it debt-free.
The S&P/ASX200 is Australia’s leading share market index and contains the top 200 ASX-listed companies in terms of market capitalisation, and accounts for about 80% of the country’s equity market. The index is designed to measure the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalisation.
It is recognised as the institutional investable benchmark in the country.
Write to Angela East at Mining.com.au
Images: Mining.com.au & Stock
