Thursday 5th February 2026
Daily Market Update: 6 February 2026
Australian market overview
The Australian share market ended a two-day winning streak as weakness in commodities weighed on sentiment, with the S&P/ASX 200 Index (ASX: XJO) falling 0.4 per cent, or 38.60 points, to 8889.20. Losses were concentrated in the heavyweight materials sector as copper prices slid more than three per cent, while silver and gold recorded sharp declines, driving renewed volatility across resource stocks. Market participants noted that recent turbulence in precious metals reflected shifting positioning and sentiment rather than a material change in underlying fundamentals.
Australian stocks in focus
Major miners led the downside, with BHP Group Limited (ASX: BHP) retreating 3.9 per cent, South32 Limited (ASX: S32) down four per cent and Sandfire Resources Limited (ASX: SFR) weaker by 5.8 per cent, while gold producers including Northern Star Resources Limited (ASX: NST), Newmont Corporation (ASX: NEM) and Genesis Minerals Limited (ASX: GMD) also fell sharply. Uranium names such as Paladin Energy Limited (ASX: PDN), NexGen Energy Limited (ASX: NXG) and Deep Yellow Limited (ASX: DYL) underperformed, while investors rotated into financials, lifting Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking Group Limited (ASX: ANZ), QBE Insurance Group Limited (ASX: QBE) and Insurance Australia Group Limited (ASX: IAG). In corporate news, Elders Limited (ASX: ELD), Neuren Pharmaceuticals Limited (ASX: NEU), Beach Energy Limited (ASX: BPT) and Lynas Rare Earths Limited (ASX: LYC) declined on company-specific updates, while Regal Partners Limited (ASX: RPL) rallied after announcing a share buy-back program.
Global market backdrop
Global equities were weaker, with the S&P 500 Index (INDEXSP: GSPC), Nasdaq Composite Index (INDEXNASDAQ: IXIC) and Dow Jones Industrial Average (INDEXDJX: DJI) each falling around one per cent amid a technology-led pullback. Sentiment was pressured by cautious guidance from Alphabet Inc. (NASDAQ: GOOGL) and Qualcomm Incorporated (NASDAQ: QCOM), highlighting concerns over the pace of returns from heavy artificial intelligence investment, while softer United States labour data reinforced a risk-off tone across markets.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.4 | -0.4 | 1.8 | 1.5 | 7.8 |
| Financials | 0.9 | 2.7 | 0.5 | -4.0 | 6.2 |
| Resources | -3.1 | -1.1 | 9.8 | 22.6 | 42.7 |
| Information Technology | 2.0 | -6.3 | -10.7 | -24.2 | -25.5 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -1.2 | -1.4 | -4.4 | -5.7 | 2.6 |
| Europe | 0.4 | 0.4 | -0.8 | 3.2 | 18.1 |
| Japan | 0.1 | 0.3 | 0.6 | 2.2 | 17.1 |
| China top 50 | 0.1 | -5.8 | -6.0 | -8.0 | 10.0 |
| India top 50 | 1.1 | 2.5 | -5.5 | -8.1 | -6.1 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.1 | -0.1 | -0.1 | -1.8 | 1.4 |
| Australian Corporate Bond | 0.0 | -0.1 | 0.0 | -1.5 | 2.3 |
| US Treasury | 0.2 | -0.2 | 0.0 | 0.0 | 4.1 |
| Cash | -0.3 | -0.2 | 0.0 | 0.6 | 3.6 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -3.5 | -8.0 | 7.2 | 16.6 | 56.9 |
| Silver | -12.6 | -23.7 | 15.6 | 76.5 | 152.6 |
| Crude Oil | -0.7 | -3.4 | 8.8 | 7.3 | 0.5 |
| Bitcoin | -6.7 | -20.2 | -30.8 | -39.3 | -37.8 |
