FX.co ★ Australian Stocks End Slightly Lower

On Wednesday, the S&P/ASX 200 slipped by 0.1%, closing at 8,531, as it continued to decline from the previous session. The market faced pressure due to escalating geopolitical tensions and a cautious outlook ahead of critical domestic employment data. Concerns rose as the conflict between Israel and Iran persisted into its sixth day, with President Trump demanding an unconditional surrender from Iran and suggesting potential U.S. involvement. In trade developments, China showed openness to collaborating with Australia to maximize their free trade agreement. Domestically, attention is now on Thursday's employment report, where analysts anticipate an increase of 22,500 jobs in May and an unemployment rate holding steady at 4.1%. The labor market's unexpected robustness could challenge the 75% probability of a rate cut next month. In corporate news, major mining companies were the biggest losers, with the sector index dropping 1.8% to a one-month low as copper prices declined amid Middle East tensions. In contrast, healthcare stocks, which benefit from exports, rose by over 1%, bolstered by biotech leader CSL, which saw a 1.2% increase.