Banks, Miners Drag Aussie Stocks Lower; Mideast tensions loom

June 23 (Reuters) – Australian Shares Slipped on Monday, Pressured by Banks and Miners, as Cautious Investors Braced for Possible Iranian Retaliation Against the Us Atacts on Nuclear Sites, Fulling Concerns over global growth and inflation.

The S & P/Asx 200 Index Fell 0.7% to 8,446.0 points by 0057 gmt. The benchmark had ended 0.2% lower on Friday.

Iran Vowed to Defend Itself after the US Dropped 30,000-Pound Bunker-BUSTER BOMBS onTo The Mountain Above Iran’s Fordow Nuclear Site, Whilete Its PARLIAMENT Approved A MOVEE THE MOVE to Close the Strait of Hormuz, which handles nearly a Quarter of Global Oil Shipments.

“The first moves will be reactive, passibly knee-jerk and out of fear: a typical ‘shot first and ask questions later’ approach,” Kyle Rodda, A Senior Financial Market Analyst with Capital.com, SAIDDA.

He wondered if Iran would retaliate by Choking off Oil Tankers in the Strait of Hormuz.

Meanwhile, Australia’s Foreign Minister Penny Wong Said Canberra Supported The Us Strike on Iran and Called for De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-De-SC.

Energy Stocks Gained 0.5%, Tracking Oil Pries, which jumped to a five-month high as washington’s weekend move to join israel in attacking ran staked supple

Wooddeide and its smaller peer santos rose 0.6% and 1.3%, respectively.

Banks dropped 0.6% to drag the benchmark lower. The “Big Four” Banks Slipped Between 0.7% and 1.6%.

Miners Fell 0.9% on Weaker Iron Ore Pries as Demand Continued to Battle a Persistent Slump in China’s Property Market.

BHP and Rio Tinto Lost 1.2% and 0.1%, respectively.

In company news, metcash rose as much as 5.4% to its highhest in more than a year after the whole-distributor’s full-yar net profitable jumped 10%. The stock was the top Gainer on Asx 200.

Markets Now Await Local Consumer Price Index Data Later This Week for Further Cues Into The Reserve Bank of Australia’s Interest Rate Trajectory.

New Zealand’s Benchmark S & P/NZX 50 Index Slipped 0.2% to 12,544.73 points. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Sumana Nandy)