2025.08.1900:56:17UTC+00Australian Shares Retreat from Record High

The S&P/ASX 200 index declined by 0.6% to 8,910 on Tuesday, retreating from its record high achieved in the previous session and interrupting a three-day rally, as the unfolding corporate earnings season was overshadowed by ongoing Russia-Ukraine peace negotiations. CSL Limited experienced a steep fall of 10.1%, its most significant drop since November 2008, despite reporting an increase in full-year net profit, as the company announced plans to downsize its workforce by up to 15% as part of a restructuring initiative. Additionally, Woodside Energy saw a decline of 0.8% following a reduction in first-half profits, attributed to decreased average realized prices. Conversely, BHP registered a 0.6% rise in its share price after announcing an uptick in annual profit. On the international front, U.S. President Trump encouraged Russian President Putin to arrange a summit with Ukrainian President Zelenskiy in an effort to resolve the prolonged three-year conflict between Russia and Ukraine. Domestically, the Westpac-Melbourne Institute Consumer Sentiment Index rose by 5.7% compared to the previous month, reaching a high of 98.5 in August 2025, the highest in over three years.