Australian shares again fell at Thursday's close as oil prices gained on the continued closure of the critical Strait of Hormuz in the Middle East.
The S&P/ASX 200 Index declined 0.57%, or by 50.20 points, to close at 8,793.40.
Brent crude oil futures gained 1.4% on Thursday to reach $103.3 per barrel. Iran captured two container ships seeking to exit the Gulf via the Strait of Hormuz.
On Wall Street, the S&P 500 rose 1.1%, and the Nasdaq climbed 1.6% to reach new record high points as the earnings season started. The Dow Jones rose 0.7%.
On the domestic front, The Flash Australia PMI Composite Output Index rose to 50.1 in April from 46.6 in March, moving above the neutral threshold as renewed growth in services activity offset a faster decline in manufacturing output, according to a survey by S&P Global.
Australia's private sector activity stabilized in April after March's decline, as a modest recovery in services was offset by continued weakness in manufacturing amid soft domestic demand, rising cost pressures, and supply chain disruptions linked to Middle East tensions.
Job advertisements in Australia in March fell 0.4% month on month, 1.3% quarter on quarter, and 2.9% year on year, according to data published by Seek.
In company news, Santos (ASX:STO) reported first-quarter sales revenue of about $1.27 billion, down from $1.29 billion in the year-ago period. Sales volume for the quarter was 24.2 million barrels of oil equivalent (mmboe), up from 23.3 mmboe a year earlier, while total production increased to 22.5 mmboe in the first quarter from 21.9 mmboe a year ago. Its shares rose 3% on market close.
Ampol (ASX:ALD) submitted its final remedy package to the Australian Competition and Consumer Commission (ACCC) on Wednesday for its proposed acquisition of EG Australia, offering to increase the number of planned divestments to 41 sites from 37. Its shares closed up over 1%.
Lastly, Mirvac Group (ASX:MGR) said residential sales for the fiscal third quarter reached 592 sales, up 12% year on year. The company said year-to-date settlements reached 1,076, up 15% year on year, with about 96% of the fiscal 2026 target lot settlements secured and margins on track to be within the 18% to 22% target range. Its shares were down over 1% on market close.