ASX Preview: Australian Shares Set to Fall as US-Europe Tensions Escalate; BHP Group's Copper Production Falls 4% in Fiscal Q2

MT Newswires Live01-20

Australian shares are poised to fall on Tuesday as global market fears intensify over escalating tensions between the US and Europe over Greenland, while concerns about potential disruptions to Russian oil supplies and a weaker global economic outlook also weigh on investor sentiment.

In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence fell 5.2 points in the week of Jan. 12 to 18 to 79.3 points, marking the sharpest weekly decline since February 2023, ANZ reported Tuesday.

In corporate news, BHP Group (ASX:BHP) reported copper production of 490,500 tonnes in the second quarter of fiscal year 2026, down 4% year on year, according to a Tuesday filing with the Australian bourse.

Origin Energy (ASX:ORG) extended the operations of all four units of the Eraring power station in New South Wales to April 30, 2029, from Aug. 19, 2027, according to a Tuesday filing with the Australian bourse.

Australia's benchmark index fell 0.3% or 29.4 points to close at 8,874.50 on Monday.

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