Australian Shares Fall as Energy Firms Weigh

The S&P/ASX 200 Index fell 0.4% to 7,202 on Tuesday, extending losses from the previous session, with the energy sector leading the decline.

Woodside Energy tumbled more than 4% after releasing production guidance for 2023 that came in below expectations.

Santos also dropped 1% after announcing that its Jon Brookes platform will suspend operations temporarily due to a small gas leak.

Financial firms declined as well, with the “Big Four” banks all trading in negative territory.

Elsewhere, gold stocks slumped on weaker bullion prices, with sector leaders Newcrest Mining and Northern Star Resources losing 2.2% and 3.3%, respectively.

Meanwhile, heavyweight miners and lithium stocks advanced, including BHP Group (0.7%), Rio Tinto (1.1%) and Pilbara Minerals (3.7%).