18.12.202506:21:14UTC+00Australian Shares Finish Flat

The S&P/ASX 200 concluded trading almost unchanged at 8,588 on Thursday, pausing its three-day downward trend. Gains in major mining stocks counterbalanced declines in the energy sector. The mining industry experienced a slight uptick of 0.2%, boosted by rising iron ore prices. The sector is poised for potential growth in the upcoming year, as expectations of interest rate hikes bolster the Australian dollar. Key players BHP Group and Rio Tinto saw increases of 0.5% and 0.8%, respectively. Conversely, gold stocks experienced a downturn of 0.7%, likely due to investors taking profits following a record close in the previous session. In contrast, the energy sector hit its lowest point in nearly two months, with a significant 2.7% drop in leading oil and gas producer Woodside Energy. This decline followed the departure of CEO Meg O’Neill, who transitioned to BP. During O’Neill’s leadership, Woodside merged with BHP’s petroleum division, positioning itself as a leading independent producer and doubling production. Meanwhile, the banking sector remained stable, with Commonwealth Bank of Australia's 0.7% increase balancing losses among the other major banks.