Australian ASX 200 slides amid mining slump and defensive sector rotation

The S&P/ASX 200 index fluctuated through the week, slipping in early trading as mining and energy stocks fell, then recovering modestly on a shift toward defensive sectors. Fortescue Metals Group led the mining decline, dropping to an 11‑month low after iron‑ore prices fell to a one‑year trough of around US$94 per tonne, driven by weaker Chinese demand. Energy shares also retreated, while utilities, consumer staples and healthcare posted gains.

Company‑specific news added to market dynamics. Horizon Gold reported multiple high‑grade gold intercepts at its Gum Creek project in Western Australia, supporting a potential resource expansion. Pepper Money completed the acquisition of Westpac’s RAMS home‑loan portfolio, adding about A$15.4 billion in residential mortgages to its servicing business. ClearVue Technologies announced a new manufacturing capability for its Gen 3 Vision Glass, enabling low‑E coatings on photovoltaic‑integrated glazing and expanding its global façade market reach.

Broader sentiment was influenced by geopolitical cues, with U.S. President Donald Trump’s remarks on Iran easing concerns over oil‑price volatility, while investors awaited upcoming ASX earnings reports from major banks and miners.