21-Feb-2025      15:43

Australian markets end slightly lower

Australian markets ended slightly lower, giving up early gains amid increasing geopolitical tensions.

Data showed Australia's unemployment rate rose further in January even as hiring exceeded expectations. Separately, a survey by S&P Global revealed that business activity in Australia's private sector rose to a six-month high in February.

The benchmark S&P/ASX 200 slid 0.32 percent to 8,296.20 while the broader All Ordinaries index settled 0.36 percent lower at 8,570.90.

Mayne Pharma Group shares soared 33 percent after U.S. pharma giant Cosette made a $672m bid for the company.

QBE Insurance rallied 3 percent on strong full-year results. Nine Entertainment jumped 20 percent following CoStar's $2.7 billion bid for Domain.

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