Australian shares dip as miner performance splits and oil price falls

On Tuesday the S&P/ASX200 slipped marginally, losing 5.1 points (0.06%) to 8,811 after briefly trading above the 8,800 level. The broader All Ordinaries fell 15.3 points (0.17%) to 9,015.9. Miner stocks were mixed: gold miners mostly declined while iron‑ore majors Fortescue, BHP and Rio Tinto each rose about 1%. Technology names such as Block, Zip and Xero fell after a drop on the U.S. Nasdaq, and WiseTech Global swung from a modest gain to a 1.6% loss later in the session. The financial sector provided support, with NAB up nearly 1% and Commonwealth Bank up 0.6%.

The market movement was linked to easing oil prices – Brent crude hovered just above US$78 a barrel – and expectations of higher U.S. borrowing costs. Energy‑focused Viva Energy dropped over 2% after reporting mixed refinery results. The gold price slipped to US$4,164 an ounce, pulling the gold sub‑index lower. The Australian dollar traded around 0.699 USD. Domestic data showed the manufacturing PMI rising to 51.2, indicating continued expansion.