S&P/ASX 200 closes lower as Australian shares struggle for momentum amid tariff tensions and suspense over inflation data; check top gainers and losers

Australian Sharemarket: S&P/ASX 200 closed lower on Tuesday (February 24, 2026) as Australian shares struggled for momentum, with losses in heavyweight banks offsetting gains in miners. Investors remained cautious ahead of key domestic data and sought clarity on the latest tariff salvo.

The S&P/ASX 200 closed down just 3.70 points to 9,022.30. According to the ASX website, over the last five days, the index has gained 0.71% and is currently 1.05% off of its 52-week high. The bottom-performing stocks in this index were ARB CORPORATION LIMITED and AUSTAL LIMITED, down 13.06% and 12.48%, respectively.

The local market stayed in wait-and-see mode after US President Donald Trump warned countries not to retreat from recently negotiated trade deals, saying he would impose much higher duties if they did.


According to news agency Reuters, investors were also awaiting Wednesday’s consumer price data, seen as key after Australia’s recent rate hike. The Reserve Bank of Australia is the only major central bank outside Japan to tighten ⁠policy in 2026, driven largely by expectations that inflation would run above its target band.

S&P/ASX 200: Top gainers and losers

The S&P/ASX 200’s top performers were led by LTR Liontown Limited, which closed at $1.815, up 14.5 cents or 8.682 per cent. VEA Viva Energy Group Limited followed, finishing at $1.870, gaining 14 cents or 8.092 per cent. PLS Group Limited ended the session at $4.720, rising 35 cents or 8.009 per cent.

ILU Iluka Resources Limited advanced to $5.720, up 42 cents or 7.924 per cent, while IMD Imdex Limited rounded out the top five gainers at $4.280, climbing 28 cents or 7.000 per cent.

On the downside, ARB Corporation Limited recorded the steepest fall, closing at $21.360, down $3.210 or 13.065 per cent. ASB Austal Limited slipped to $4.910, shedding 70 cents, or 12.478 per cent. SDR SiteMinder Limited declined to $2.940, losing 39 cents, or 11.712 per cent.

DTL Data#3 Limited finished at $7.150, down 64 cents or 8.216 per cent, while MP1 Megaport Limited eased to $7.380, falling 58 cents or 7.287 per cent.

S&P/ASX: Top-performing sectors

Six of 11 sectors ended higher. Energy was the best-performing sector, gaining +1.68% and +5.14% for the past five days, according to the ASX website. On the bourse, financials fell 0.3%, weighed down by a 3.6% slide in Macquarie amid growing worries that higher-for-longer rates could crimp lending growth and fee income, said Tim Waterer, chief market analyst at KCM Trade, as reported by Reuters.

Technology stocks fell 3.5%, while real estate slipped 1.2%. Among the few sectors trading in the green, miners rose 1.1%, with BHP adding 1.4%. The heavyweight miner ⁠hit a record high earlier in the session, surpassing the A$55 mark for the first time.

The sub-index was further boosted by a rally in lithium miners, which surged on renewed optimism around lithium prices. Pilbara Minerals and Mineral Resources gained 8% and 6.5%, respectively. Energy stocks rose 1.7%, helped by firmer oil prices and Woodside Energy’s profit beat, which lifted its shares to a near 19-month high.