The Australian share market has fallen, weighed down by losses in the heavyweight mining sector, despite gains on Wall Street at the end of last week.
The benchmark S&P/ASX200 index was down 18.5 points, or 0.27 per cent, to 6,797.8 points at 1200 AEDT on Monday, while the broader All Ordinaries was down 18.4 points, or 0.27 per cent, to 6,906.0 points.
Mining shares had by far the largest losses, collectively sliding 1.20 per cent, following a dip in iron ore prices.
BHP was down 1.26 per cent to $39.22, Rio Tinto was down 1.39 per cent to $102.22 and Fortescue Metals was down 1.32 per cent to $10.805.
Among goldminers, Newcrest was down 1.65 per cent, Northern Star slid 2.71 per cent and Evolution was 1.13 per cent lower.
The big four banks were mixed, with ANZ flat at $24.78, Commonwealth down 0.12 per cent to $81.15, NAB flat at $24.87 and Westpac up 0.45 per cent to $24.36.
Bendigo and Adelaide Bank was down 0.15 per cent, Bank of Queensland was up 0.20 per cent and Macquarie Group was down 0.60 per cent.
Five of the ASX’s 11 sectors were in negative territory, three were unchanged and only two – consumer staple and tech shares – advanced by midday.
Coles added 0.39 per cent, Woolworths gained 0.58 per cent and IGA-supplier Metcash edged up 0.19 per cent while Bega Cheese was up 0.97 per cent and Bubs bounced 2.81 per cent.
In the volatile tech sector, Xero climbed 4.52 per cent, Appen rose 1.70 per cent and Afterpay added 0.72 per cent but WiseTech Global fell 1.65 per cent and Altium slipped 0.53 per cent.
Elsewhere, Vocus was up 1.02 per cent after the telco settled a $35 million class action suit launched on behalf of shareholders complaining about “misleading” profit guidance.
On Wall Street on Friday, the Dow Jones Industrial Average finished up 0.28 per cent, the S&P 500 was up 0.49 per cent and the tech-heavy Nasdaq Composite was 0.42 per cent higher.
The Aussie dollar is buying 69.00 US cents from 68.89 US cents on Friday.