The ASX 200 slipped 13 points, or 0.2%, to close at 8,831 on Monday, pulling back from a one-week high and reversing the previous session’s rally. Sentiment weakened after Australia’s job advertisements declined for a third time this year in June, highlighting the drag from higher borrowing costs. Investors also turned cautious ahead of June CPI and PPI releases from China, Australia’s key trading partner, due later this week.
Losses were partially contained by firmer U.S. stock futures ahead of the release of the Federal Reserve’s June meeting minutes, while a softer inflation gauge from the Melbourne Institute added to signs of easing cost pressures.
Industrial services, consumer stocks, and non-energy minerals led the market lower. The big four banks lost between 0.1% and 1.1%. Supermarket giants Woolworths (-1.1%) and Coles (-0.4%) underperformed, with the broader supermarket sector down 1.6% so far in July after surging 13% in June.
By contrast, Vault Minerals jumped 11.6% after Genesis Minerals launched a AUD 5.6 billion takeover offer, surpassing the bid made by Regis Resources in May.
