Australian shares reached a new record high before falling slightly as investors anticipated the US Federal Reserve’s policy decision.
At 11:45am, the S&P/ASX 200 is 0.03 per cent lower at 8,138.30.
The S&P 500 remained largely unchanged after setting a new intraday high, while the Dow fell slightly and the Nasdaq rose by 0.2%.
On the ASX, seven out of eleven sectors declined, with consumer discretionary and health sectors leading the losses. Harvey Norman’s shares dropped by 0.1% following a class action lawsuit, and City Chic Collective fell by 4.2%.
The major banks showed mixed results, with ANZ down 0.2% and Macquarie Group falling 1.6% due to potential divestments. Conversely, energy and materials sectors advanced, driven by rising oil prices amid Middle Eastern tensions. BHP, Rio Tinto, and Fortescue all saw gains, while Woodside’s shares edged up 0.2% following a new LNG contract with Japan. Globally, BlueScope Steel, Fonterra, and Synlait Milk saw share increases due to new agreements and expansion plans.
Futures
The SPI futures are pointing to a fall of 8 points.
Best and worst performers
The best-performing sector is Utilities, up 1.9 per cent. The worst-performing sector is Health Care, down 0.65 per cent.
The best-performing large cap is Origin Energy (ASX:ORG), trading 3.40 per cent higher at $9.875. It is followed by shares in Qantas Airways (ASX:QAN) and Pro Medicus (ASX:PME).
The worst-performing large cap is Telix Pharmaceuticals (ASX:TLX), trading 2.46 per cent lower at $18.05. It is followed by shares in Auckland International Airport (ASX:AIA) and Technology One (ASX:TNE).
Commodities and the dollar
Gold is trading at US$2599.80 an ounce.
Iron ore is 0.7 per cent higher at US$91.55 a tonne.
Iron ore futures are pointing to a 2.3 per cent fall.
One Australian dollar is buying 67.65 US cents.