2025.03.2400:20:49UTC+00Australian Shares Slip, James Hardie Tumbles

On Monday, the S&P/ASX 200 Index experienced a slight decrease of 0.15% to settle at approximately 7,920, thereby paring back some of the gains from last week. A significant driver of this decline was a 10% drop in James Hardie's stock, following its announcement of a A$14 billion acquisition deal for the US outdoor building products manufacturer AZEK. Additionally, Helia Group, a mortgage insurer, plummeted by 27% after revealing potential risks to its lenders mortgage insurance contract with Commonwealth Bank. This development came as the bank initiated exclusive discussions with another provider. Other key performers that lagged in the index comprised BHP Group, which fell by 1%, Transurban Group with a 2.4% decline, and Woolworths Group, dipping by 0.9%. In terms of economic data, investors took note of new indicators that highlighted a surge in Australia's manufacturing PMI, reaching a 29-month high in March, alongside positive growth in the services PMI.