Australian shares opened the new year on a soft note, with the benchmark S&P/ASX 200 slipping 0.1% after a major gold miner cut its production outlook.
Overall Market Movement
The S&P/ASX 200 closed 2025 almost 7% higher, marking a third straight annual gain. However, early 2026 trading saw the index dip to 8,703.4 points, driven mainly by mining and gold stocks.
Northern Star Resources' Forecast Cut
Northern Star Resources fell 8.2%, its steepest intraday drop since October 2022, after downgrading its annual gold production forecast. The downgrade triggered the stock’s biggest one‑day loss in years.
- Reason for the cut: Lower expected gold output for the year.
- Immediate impact: Shares tumbled, pulling down the broader mining sector.
- What investors might consider: Review exposure to gold miners and monitor future guidance.
Other Sector Moves
Mining stocks overall slipped 0.3% despite modest gains from BHP (+0.1%) and Rio Tinto (+0.6%). Iron ore prices fell late last year as steel demand softened, though they remain up for the year thanks to strong Chinese demand.
Gold‑linked stocks dropped 1.9%, heading for their worst week since late November. Technology stocks slipped 1%, echoing losses on Wall Street’s Nasdaq.
- Accounting software firm Xero fell 1.3%.
- Logistics software provider WiseTech Global slipped 0.4%.
- Data‑center operator NEXTDC dipped 0.5%.
Top Gainer: Nickel Industries
Nickel Industries rose 7.8%, its biggest intraday jump in nearly three months. The surge came after South Korean alloy maker Sphere Corp announced a 10% stake in the Excelsior Nickel Cobalt HPAL project in Indonesia, valuing the project at $2.4 billion.
Regional Snapshot
New Zealand’s market was closed for a public holiday. The S&P/NZX 50 index finished 2025 up 3.3%, also posting a third straight annual gain.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider your personal financial situation before making any investment decisions.