Australian shares opened down 0.2 per cent on Tuesday to 7132.6 after Wall Street closed lower in a late sell-off.
Energy and materials fell more than 1.4 per cent while consumer staples, healthcare and financials rose.
CBA gained 2 per cent to $107 after the major bank reported a 2 per cent gain in first-quarter profit to $2.5 billion thanks to lending growth as bad debts drop even as interest rates started to rise. Shares in rivals ANZ, Westpac and NAB also gained.
Incitec Pivot shot to the top of the leaderboard, rising 6.4 per cent after reporting a 186 per cent surge in full-year net profit to $1.03 billion, excluding individual material items.
Core Lithium shares fell 8.9 per cent after reporting that its chief financial officer Simon Iacopetta had stepped down. Lithium producers Allkem and Pilbara Minerals were also sharply lower.
Life360 fell 7.4 per cent after reporting a third-quarter adjusted EBITDA loss of $US9.4 million, compared to a loss of $US3.7 million in the same period a year ago. The company flagged a reduction in consolidated revenue expectations due to “continuing headwinds in the standalone hardware business”.