Australian Shares Fall as Commodities Weigh

The S&P/ASX 200 Index fell 0.2% to around 7,213 on Thursday, sliding for the third straight session, with energy and mining stocks leading the decline as declining global growth prospects gripped commodity markets.

Markets were also on edge due to lingering uncertainties around the path for US Federal Reserve rate hikes.

Energy firms led the losses on weaker oil prices, with sector leaders Woodside Energy and Santos losing 2.4% and 1.5%, respectively.

Mining and clean energy-related stocks also declined, including Fortescue Metals (-1%), South32 (-1.9%) and Pilbara Minerals (-2%).

Meanwhile, gold stocks advanced on stronger bullion prices, led by Newcrest Mining (3%), Evolution Mining (4.6%) and Northern Star Resources (2.6%).