XM does not provide services to residents of the United States of America.

Australian shares end flat as mining, energy losses offset banks gains



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Australian shares end flat as mining, energy losses offset banks gains</title></head><body>

Westpac hits over six-year high

Ampol hits lowest level since mid-July 2023

Gold stocks climb near five-week peak

Updates to close

By Sherin Sunny

Aug 19 (Reuters) -Australian shares ended flat on Monday, as losses in mining and energy stocks were offset by financials' strength, while investors assessed a flurry of mixed corporate earnings to get cues for the week ahead.

The S&P/ASX 200 index .AXJO closed 0.1% higher at 7,980.40.

Ampol ALD.AX dropped 4.8%, after the fuel retailer reported weak half yearly profit and lower dividend.

Westpac WBC.AX closed 2.5% higher, lifting financials .AXFJ to end up 0.8%. The lender's third-quarter profit beat analyst forecasts and net interest margin improved.

The remaining three of the "Big Four" banks gained between 0.5% and 1.2%.

Suncorp SUN.AX closed 1.3% higher after the insurer posted higher annual cash earnings but flagged slower growth in fiscal 2025 gross written premiums.

Miners .AXMM fell 0.5% tracking weaker iron ore futures. IRONORE/

Energy stocks .AXEJ closed 0.6% lower, as global oil prices eased, with Paladin Energy PDN.AX falling 5.8%. O/R

The consumer staples sub-index .AXSJ closed 0.8% lower, weighing heavily on the ASX 200 after Australia-listed shares of New Zealand's a2 Milk A2M.AX slumped 18.7%. The infant milk formula maker forecast annual revenue growth below expectations.

Retail giants Woolworths Group WOW.AX and Coles Group COL.AX fell 0.1%, each, earlier in the session.

"Investors are a little bit cautious of strong share price into results given the experience with a2 Milk," said Jun Bei Liu, portfolio manager at Tribeca Investment Partners.

"If you look across consumer sector, most of them... are a little bit weaker. So I would just think that it is just a bit of a profit-taking across the consumer-facing sector."

BlueScope Steel BSL.AX, which was spun off from BHP in 2002, fell 3.1%, after the steelmaker warned of an earnings slump in fiscal 2025 and reported its lowest underlying profit in four years.

Meanwhile, New Zealand's benchmark S&P/NZX 50 index .NZ50 closed 0.5% lower at 12,662.11.



Reporting by Sherin Sunny in Bengaluru; Editing by Rashmi Aich

For more information on DIARIES & DATA: U.S. earnings diary RESF/US Wall Street Week Ahead .N/O Global Economy Week Ahead DATA/ ................................................................ For latest top breaking news across all markets NEWS1
</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.