Australian shares were flat at the open as traders responded to a mixed bag of earnings results.
The S&P/ASX 200 slipped 0.2 per cent, or 14.5 points, lower to 8522.60 at the open, despite futures predicting the index would open higher. The Australian dollar slipped to US63.51 after hitting a two-month high on Monday.
Seven sectors were in the red, with real estate stocks posting the largest losses. Dexus weighed on the index after the company said higher interest rates, lower trading profits and the continued impact of higher incentives on its portfolio had weighed on earnings. Dexus slipped 0.5 per cent, Scentre 2.3 per cent and Mirvac 1.8 per cent.
BHP also weighed on the index, with shares 0.7 per cent lower. The mining giant announced that it would pay its lowest interim dividend in eight years and the bare minimum allowed under its shareholder returns policy, as slowing Chinese steel demand drove profit lower.
Challenger posted the largest loss, dropping 6 per cent despite posting a 12 per cent increase in net profit to $225 million.
Hub24's 9.1 per cent rally helped to moderate the index's losses, however. The investment platform's profit soared 54 per cent, allowing it to hike its interim dividend by 30 per cent to 24.
Meanwhile, the Reserve Bank of Australia is widely expected to cut the cash rate by a quarter of one percentage point on Tuesday afternoon. Traders will be closely watching governor Michele Bullock's press conference to understand the bank's approach to reinflation risk.
Stocks on the move
Seek advanced 2.4 per cent after the company said it expected adjusted profit to hit a range of $135 million and $160 million in fiscal 2025. The employment marketplace operator also lifted its interim dividend 26 per cent from a year ago to 24 fully franked.
HMC Capital leapt 8.4 per cent after assets under management rose 45 per cent to $18.5 billion in the six months to December, with a significant profit contribution from its private equity division.
Iluka-backed Deterra Royalties dropped 4.9 per cent after net profit slumped to just under $64 million in the first half of fiscal 2025 due to lower iron ore prices.
Aurizon lifted 1.6 per cent after the company resurrected the possibility of splitting its rail haulage and rail tracks businesses as earnings slide and the share price hovers close to historic lows.

Sumber : AFR