FX.co ★ Australia Stocks Trade Notably Lower

Australian equities fell 75 points, or 0.9%, to 8,643 in early Thursday trade, erasing the previous session’s gains as investors weighed mixed signals from U.S.–Iran negotiations. U.S. Secretary of State Marco Rubio cited progress toward an agreement, while President Donald Trump emphasized that key issues remain unresolved.

Caution also intensified on the domestic front ahead of several key data releases: first‑quarter capital expenditure and April household spending due later today, and private credit figures scheduled for Friday. Downside pressure was partly offset by a softer‑than‑expected April inflation reading, which eased expectations for additional interest rate hikes. At the same time, first‑quarter construction activity showed resilience, rising 3.4% — the fastest pace in three years.

Market breadth was weak, with declines spanning electronic technology, consumer, non‑energy mineral, and financial sectors. Notable laggards included Northern Star Resources (-3.5%), Brambles Ltd. (-3.1%), and Lynas Rare Earths (-2.6%). The four major banks lost between 0.9% and 1.3%.