S&P/ ASX 200 closes nearly flat as miners offset bank gains
Published on 11/12/2026 at 22:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSASX 200 ends a cautious session
- The S&P/ASX 200 closed at 9,146.78 on Thursday, November 12, 2026, down 0.07 percent.
- Materials fell 2.08 percent as mining stocks weakened, while financials rose 1.10 percent and limited the decline.
- Xero's planned A$1 billion buyback and upgraded outlook supported technology shares as reports about Nvidia's leadership unsettled global markets.
The S&P/ASX 200 closed at 9,146.78 on Thursday, November 12, 2026, down 6.4 points, or 0.07 percent, from Wednesday's close. The level and daily performance are shown by S&P Dow Jones Indices, while The Sydney Morning Herald reported the same closing level after the Australian session.
Materials drag on the benchmark
Mining and materials stocks were the main source of pressure. Materials fell 2.08 percent, with BHP down 1.29 percent, Rio Tinto 2.14 percent lower and Fortescue losing 2.40 percent, according to market coverage by Samso. Gold miners also weakened as bullion remained below USD 4,000 per ounce amid expectations of higher US interest rates.
The decline was contained by financials, which rose 1.10 percent. Commonwealth Bank gained 2.89 percent, Westpac advanced 1.93 percent and National Australia Bank added 0.54 percent. The sector performance helped the index recover from a loss of about 0.5 percent during the morning, according to Samso's account of the session.
Company news offsets global pressure
Xero was a notable positive. The software company announced an on-market buyback of up to A$1 billion over 12 months and raised its full-year revenue outlook. Its first-half sales increased 46 percent to NZD 1.75 billion, helping its shares finish higher and supporting the local technology sector.
Global technology sentiment became less stable during the session after reports that Nvidia's board was considering a change in chief executive. The reports contributed to lower US equity futures and added to pressure on Australian technology and mining shares, although the ASX 200 recovered most of its early decline. The index therefore ended a three-session advance only marginally lower rather than recording a broad sell-off.
For further coverage of the index, visit the S&P/ASX 200 topic page.
