Australian shares decline, with the ASX down around half a percentage point at midday, as losses in major bank NAB and miner BHP drag the market lower. Multiple outlets link the weakness to NAB’s plan to cut jobs and to BHP’s disappointing quarterly production update, including a weakness in copper.
Outlets describe early market moves as mixed, with technology stocks seen clawing back some early losses even as financials and resources struggle. The West Australian and PerthNow both emphasise NAB’s job-cut announcement as a key factor, while Business News and The West Australian highlight BHP’s production figures—particularly copper performance—as another driver. Together, the coverage frames the move as broad-based pressure from two large ASX constituents, partially offset by strength in some technology names.
