Asia
Australian Shares Extend Losing Streak; Woolworths Group Reports Higher Fiscal Q3 Sales
Australian shares extended their losing streak for the eighth consecutive day on Thursday's close as the US continued its naval blockade of Iranian ports.The S&P/ASX 200 Index retreated 0.24%, or by 21.20 points, to close at 8,665.80.Brent crude oil futures jumped 5.2% to $124.15 per barrel. The Strait of Hormuz remained closed, as US President Donald Trump is reported to be considering military options as the deadlock in negotiations with Iran continues, according to an Axios report as cited by Reuters.On the domestic front, Australia's export prices rose 0.5% in the March quarter after a 3.2% increase in the December 2025 quarter, while import prices rose 0.1% after a 0.9% increase in the previous quarter, data from the Australian Bureau of Statistics showed.Australia's total credit rose 0.7% month on month in March, following a 0.6% increase in February, data from the Reserve Bank of Australia showed.Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales, though higher fuel prices amid the Middle East conflict present a key risk, Xero said. Sales, jobs, and wages all grew during the quarter, nearly reaching their historical average growth rates.In company news, Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period. Reported fiscal 2026 Australian food earnings before interest and taxes growth is still expected to be in the mid to high single-digit range, but no longer at the upper end of the range. Its shares fell 7% at market close.Mineral Resources' (ASX:MIN) fiscal third-quarter production volume reached 80 million wet metric tonnes (wmt), up from 62 million wmt a year earlier. Total iron ore production for the three months ended March 31 across Onslow Iron and the Pilbara Hub was 10.3 million wmt, with shipments totaling 9.3 million wmt. Its shares closed up 2%.Lastly, ASX (ASX:ASX) appointed Darren Yip, group executive of markets and listings, as interim chief executive, succeeding Helen Lofthouse, effective May 29. Its shares also closed up 2%.
ASX 200ASX:ASXASX:MINASX:WOW