S&P/ ASX 200 closes 0.8 percent lower as miners retreat
Published on 10/08/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
The S&P/ASX 200 closed at 8,661 points on Thursday, October 8, 2026, down 0.8 percent or 67 points, as miners and banks retreated amid higher global borrowing costs, according to Samso. The closing data carried a 4:16 p.m. AEDT timestamp.
Lovisa Holdings was among the weakest index constituents, falling 9.1 percent after Chief Financial Officer Chris Lauder announced his departure, PerthNow reported.
Miners and banks lead the decline
Materials fell 2.0 percent and financials lost 1.0 percent, while consumer staples, energy and utilities each rose between 1.3 percent and 1.4 percent. BHP Group fell 2.0 percent and Rio Tinto dropped 2.9 percent. Fortescue also weighed on the materials sector after a production update showed weaker iron ore shipments, according to AAP via Cobram Courier.
ASX Ltd moved in the opposite direction, gaining 3.8 percent after UBS assigned a buy rating, PerthNow reported.
Bond yields and oil shape the market backdrop
Australian 10-year government bond yields rose above 5.4 percent by 4:56 p.m. AEDT, while Brent crude gained 2.2 percent to USD 102.45 a barrel. The move followed a weaker Wall Street session and renewed concern over elevated borrowing costs. VanEck senior portfolio manager Cameron McCormack said higher borrowing costs and sluggish earnings growth were weighing on the market, Australian Financial Review reported.
What comes next
China's September CPI and PPI are scheduled for Friday, October 9, 2026, at 12:30 p.m. AEDT, providing a fresh indicator for demand and commodity-sensitive Australian shares, according to Capital Street FX.
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