Australian shares were on track for a weekly rise, even as the market fell on Friday as losses in miners and banks outweighed gains in energy and gold stocks.
The S&P/ASX 200 index fell 0.1% to 8,215.7 by 2323 GMT, with market players awaiting quarterly production results from a slew of mining and energy giants next week for further direction.
Mining heavyweights such as BHP Group and Rio Tinto , as well as oil and gas giants Woodside Energy and Santos, are scheduled to report their quarterly production results next week.
The benchmark stock index has risen 0.8% so far in the week in what could be its best week since the week ended Sept. 20.
Miners fell 0.3% on Friday, hurt by falling iron ore prices.
BHP Group shed 0.6%, while Rio Tinto lost 0.3%. Iron ore prices fell on Thursday, surrendering their earlier gains over uncertainty surrounding top buyer China’s stimulus plans.
Interest rate-sensitive financials inched down 0.2%, with the “Big Four” banks falling between 0.1% and 0.5%.
The sub-index has gained 2.1% so far this week and is on track for its best week since the week ended Sept. 20. Energy stocks rose 1% on Friday after global oil prices closed higher overnight.
The sector has lost 1.5% so far this week after four straight weeks of gains. Woodside Energy rose 1.3% on Friday, while smaller peer Santos climbed 1%.
Gold stocks gained 2.1%, aided by higher bullion prices.
Gold miner Evolution Mining rose 1.3%. Globally, US stocks fell overnight following a hotter-than-expected September inflation report.
Australian shares rise towards fresh high as gold stocks shine; Fed in focus
The US Dow Jones Industrial Average fell 0.14%.
The S&P 500 declined 0.21%, while the Nasdaq lost 0.05%.
In New Zealand, the benchmark S&P/NZX 50 index was largely flat.
The benchmark has risen 1% so far this week and is set for a second straight weekly gain.
Australian shares were on track for a weekly rise, even as the market fell on Friday as losses in miners and banks outweighed gains in energy and gold stocks.
The S&P/ASX 200 index fell 0.1% to 8,215.7 by 2323 GMT, with market players awaiting quarterly production results from a slew of mining and energy giants next week for further direction.
Mining heavyweights such as BHP Group and Rio Tinto , as well as oil and gas giants Woodside Energy and Santos, are scheduled to report their quarterly production results next week.
The benchmark stock index has risen 0.8% so far in the week in what could be its best week since the week ended Sept. 20.
Miners fell 0.3% on Friday, hurt by falling iron ore prices.
BHP Group shed 0.6%, while Rio Tinto lost 0.3%. Iron ore prices fell on Thursday, surrendering their earlier gains over uncertainty surrounding top buyer China’s stimulus plans.
Interest rate-sensitive financials inched down 0.2%, with the “Big Four” banks falling between 0.1% and 0.5%.
The sub-index has gained 2.1% so far this week and is on track for its best week since the week ended Sept. 20. Energy stocks rose 1% on Friday after global oil prices closed higher overnight.
The sector has lost 1.5% so far this week after four straight weeks of gains. Woodside Energy rose 1.3% on Friday, while smaller peer Santos climbed 1%.
Gold stocks gained 2.1%, aided by higher bullion prices.
Gold miner Evolution Mining rose 1.3%. Globally, US stocks fell overnight following a hotter-than-expected September inflation report.
Australian shares rise towards fresh high as gold stocks shine; Fed in focus
The US Dow Jones Industrial Average fell 0.14%.
The S&P 500 declined 0.21%, while the Nasdaq lost 0.05%.
In New Zealand, the benchmark S&P/NZX 50 index was largely flat.
The benchmark has risen 1% so far this week and is set for a second straight weekly gain.
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