Shares fall amid a broad sell-off; BHP buys Toronto listed copper miner Filo; Ramsay appoints ex Woolworths executive; Rex shares still suspended; Fortescue hit with $2 billion block trade. Follow updates here.
The Australian sharemarket dropped over 1 per cent at the open on Tuesday following a sharp sell-off in the mining giants. The benchmark S&P/ASX 200 Index dropped 1.2 per cent, or by 92.4 points to 7987.2 at the start of trade, with all 11 sectors in the red. The materials sector was the worst performing, sliding 1.8 per cent. The entire sector was dragged lower as index heavyweight BHP dropped 1.5 per cent.
Policy decisions from Japan, the US and Bank of England this week are keeping investors cautious. In addition, the next four days mark a crucial reporting season test with Microsoft, Meta, Apple and Amazon on deck. Rio Tinto is set to report at 8.30am AEST on Wednesday. Stocks in focus Ramsay Health Care dropped 0.7 per cent following an announcement that chief executive Craig McNally will retire at the end of June 2025.
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