S&P/ASX 200 edges lower as Australian shares lose momentum after two days of rally; Gold stocks drop over 4 per cent, check top gainers-losers and how different sectors performed

Australia Sharemarket News: Australian shares lost their momentum and pared gains to end slightly lower on Thursday (February 5, 2026), as base and precious metal miners slid on weaker commodity prices. The S&P/ASX 200 fell 0.43% and dropped 38.60 points to 8,889.20 after rising 1.7% ‌over the ‌previous two sessions.

Gold stocks dropped 4.6% as bullion extended losses on a stronger US ‌dollar and profit-taking ahead of key US jobs data.

According to Reuters, heavyweight producer Northern Star Resources shed 4.6%, and Evolution Mining fell 3.2%. The broader mining sub-index slid 3.7%, with top iron ore miners BHP Group and Rio Tinto falling from their lifetime peaks, down 3.9% and 1.4%, respectively.

S&P/ASX 200: Top gainers and losers

The S&P/ASX 200 recorded a mixed session, with strong gains in select stocks offset by sharp losses in others. Among the top performers, Treasury Wine Estates Limited (TWE) led the gains, rising 6.98 per cent to close at $5.52. Amcor Plc (AMC) followed, climbing 6.65 per cent to $69.65, while GQG Partners Inc. (GQG) advanced 6.19 per cent to $1.72. Netwealth Group Limited (NWL) added 5.96 per cent to finish at $24.00, and Premier Investments Limited (PMV) gained 5.92 per cent, ending the session at $13.95.

On the downside, Neuren Pharmaceuticals Limited (NEU) posted the steepest decline, falling 9.78 per cent to $13.20. NexGen Energy (Canada) Ltd (NXG) slid 9.18 per cent to $16.53, while Paladin Energy Ltd (PDN) dropped 8.98 per cent to close at $12.36. DroneShield Limited (DRO) retreated 8.33 per cent to $3.19, and Lynas Rare Earths Limited (LYC) eased 7.93 per cent to $14.74.

S&P/ASX 200: Top gainers and losers

As many as eight out of 11 sectors ended higher despite the decline in the S&P/ASX 200 Index. Consumer Discretionary was the best-performing sector, gaining +1.36% and +0.90% for the past five days, according to the ASX website.

Energy stocks slid 1.2%, tracking lower oil prices as the U.S.–Iran tensions appeared to ease, according to Reuters. The sub-index was ‍also dragged down by Beach Energy, which slumped 4.4% after posting an 8% drop in first-half profit.

Financials rose ‍0.8%, limiting ⁠losses on the benchmark. ⁠Commonwealth Bank of Australia and ANZ added 1.4% each.

Consumer staples gained 1%, while discretionary stocks advanced 1.4%. Meanwhile, construction firm Maas Group tumbled 26.6% in its worst session on record after announcing the sale of its building materials division to German cement maker Heidelberg Materials for up to A$1.7 billion ($1.18 billion).