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Australian Shares Fall; James Hardie Industries Posts Lower Fiscal Q4 Adjusted Earnings, Higher Net Sales

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Australian shares again fell on Wednesday as a sell-off in bonds intensified amid rising concerns over inflation.

The S&P/ASX 200 Index rose 1.26%, or 108.10 points, to close at 8,496.60.

Brent crude oil futures were trading above $110 per barrel. Two Chinese tankers filled with oil exited the Strait of Hormuz on Wednesday, Reuters reported, citing shipping data.

The US 30-year treasuries yield rose to 5.2%, the highest level since 2007. The Australian government 15-year bond yield was at 5.29 %, the highest level since 2011.

On the domestic front, employers in Australia paid a total of AU$110.56 billion in wages and salaries for 15.5 million jobs in March, an increase of 1.4% from AU$109.07 billion in February, according to data from the Australian Bureau of Statistics.

The United Nations lowered its 2026 growth forecast for the Australian economy to 2% as the country's demand‐led recovery is now under pressure from the energy supply shock created by the Middle East conflict, according to the mid-year update of the body's World Economic Situation and Prospects report.

In company news, James Hardie Industries (ASX:JHX) reported fiscal fourth quarter adjusted earnings of $0.30 per share, down from $0.36 a year earlier. Net sales for the three months ended March 31 was $1.4 billion, compared with $971.5 million a year earlier. Its shares were down nearly 1% on market close.

Electro Optic Systems Holdings (ASX:EOS) said it has completed a fully underwritten institutional placement of about 18.8 million new fully paid ordinary shares at AU$8 per share, raising AU$150 million from existing and new institutional investors. Its shares fell 10% on market close.

Lastly, Webjet (ASX:WJL) said its wholly owned subsidiary Webjet Marketing has received written notice from Virgin Australia Holdings (ASX:VGN) advising of changes to their existing agency and ancillary commercial arrangements. Virgin has advised that from July 1 it will significantly reduce these commission payments and broader commercial terms. Its shares plunged 11% on market close.

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