Aussie shares slip as miners, energy stocks tumble

Australia's share market has swung to a loss as three major banks brought forward their tips for the next Reserve Bank interest rate hike. The S&P/ASX200 fell 36.1 points on Tuesday, down 0.42 per cent to 8,598.9, as the broader All Ordinaries lost 43.2 points, or 0.48 per cent, to 8,880.6. A modest boost at the opening withered over the session, with sentiment shifting as Wall Street futures slipped ahead of key US jobs data, and as CBA, NAB and investment giant Citi tipped the RBA to hike interest rates at its first 2026 meeting in February. The falls also extended to equity markets in Asia, as investors de-risked ahead of the delayed US data print, Pepperstone head of research Chris Weston said. "We've held up pretty well in this market, only down half of one per cent compared to some of the other markets there in China, Hong Kong or Japan," Mr Weston told AAP. "But it does feel that people have sold their 2025 winners, locked in profits, reduced some of those exposures and will look to revisit their strategy in the new year." Nine of 11 local sectors ended the day lower, led by energy stocks, IT companies and miners, while industrials traded one per cent higher and consumer staples stocks eked a less than 0.1 per cent gain. The energy sector tumbled 2.2 per cent as Brent Crude dipped below $US60 a barrel for the second time since May, dragging on Woodside and Santos, while coal producers and uranium stocks also came under pressure. IT stocks were also a sea of red, the sector tanking 2.5 per cent in a broad based sell-off. Raw materials stocks faded 0.7 per cent, as Fortescue tumbled 2.8 per cent to $22.10, while BHP and Rio Tinto edged either side of break-even as iron ore futures reclaimed $US106 a tonne. Gold stocks were in trouble, as the precious metal eased to $US4,283 ($A6,455) an ounce, dragging the ASX sub-industry 1.4 per cent into the red. Mixed miners, copper producers, rare earths and battery minerals plays also sold off. The heavyweight financials sector held up relatively well, shedding 0.1 per cent as NAB and CBA clutched minor gains, but ANZ and Westpac traded lower. Health care stocks were also down, falling 0.8 per cent as CSL (-1.2 per cent), Pro Medicus (-3.3 per cent) and Cochlear (-1.4 per cent) lost ground. In company news, REA Group pared some of its earlier losses to a 1.7 per cent slip on news Google was testing a new real estate advertising format. Droneshield soared 22.2 per cent to $2.81 after announcing a $49.6 million contract with a European reseller for handheld counter-drone systems, accessories and software updates. Star Entertainment ended the session flat after announcing the departure of CEO Steve McCann, with chair Bruce Mathieson Jnr stepping up to handle executive duties while they hunt for a new boss. Orica shares jumped 2.8 per cent to $24.36 after its leaders flagged ongoing demand for blasting technology mining chemicals and digital solutions at the group's annual meeting. In a further sign of wavering risk sentiment, cryptocurrency Bitcoin has again fallen below $US86,000 ($A129,648). "The Crypto Fear & Greed Index slipped back into extreme fear, and on-chain data shows several large holders collectively offloading over 1,000 BTC at losses of 11?16 per cent, reflecting growing concern over further downside," Zerocap analyst Emir Ibrahim said. The Australian dollar is buying 66.33 US cents, down from 66.45 US cents on Monday at 5pm. ON THE ASX: * The S&P/ASX200 fell 36.1 points, or 0.42 per cent, to 8,598.9 * The broader All Ordinaries lost 43.2 points, or 0.48 per cent, to 8,880.6 CURRENCY SNAPSHOT: One Australian dollar trades for: * 66.33 US cents, from 66.45 US cents at 5pm AEDT on Monday * 102.70 Japanese yen, from 103.03 Japanese yen * 56.45 euro cents, from 56.63 euro cents * 49.64 British pence, from 49.72 British pence * 114.79 NZ cents, from 114.94 NZ cents