AIRLINK 59.59 Decreased By ▼ -0.26 (-0.43%)
BOP 6.27 Decreased By ▼ -0.03 (-0.48%)
CNERGY 4.29 Decreased By ▼ -0.09 (-2.05%)
DFML 15.74 Decreased By ▼ -0.23 (-1.44%)
DGKC 69.53 Decreased By ▼ -2.17 (-3.03%)
FCCL 18.48 Increased By ▲ 0.02 (0.11%)
FFBL 26.81 Increased By ▲ 0.51 (1.94%)
FFL 9.27 Increased By ▲ 0.07 (0.76%)
GGL 10.25 Decreased By ▼ -0.07 (-0.68%)
HBL 115.97 Increased By ▲ 1.47 (1.28%)
HUBC 114.14 Increased By ▲ 1.44 (1.28%)
HUMNL 6.71 Increased By ▲ 0.06 (0.9%)
KEL 4.90 Increased By ▲ 0.07 (1.45%)
KOSM 4.69 Increased By ▲ 0.01 (0.21%)
MLCF 38.70 Decreased By ▼ -0.29 (-0.74%)
OGDC 125.12 Increased By ▲ 1.72 (1.39%)
PAEL 21.61 Decreased By ▼ -0.39 (-1.77%)
PIAA 10.80 Decreased By ▼ -0.20 (-1.82%)
PIBTL 6.03 Increased By ▲ 0.01 (0.17%)
PPL 113.48 Increased By ▲ 5.08 (4.69%)
PRL 27.96 Decreased By ▼ -0.24 (-0.85%)
PTC 10.96 Decreased By ▼ -0.11 (-0.99%)
SEARL 51.82 Increased By ▲ 0.37 (0.72%)
SNGP 68.30 Increased By ▲ 0.30 (0.44%)
SSGC 11.40 Decreased By ▼ -0.20 (-1.72%)
TELE 7.79 Decreased By ▼ -0.28 (-3.47%)
TPLP 11.60 Decreased By ▼ -0.10 (-0.85%)
TRG 72.48 Decreased By ▼ -3.23 (-4.27%)
UNITY 23.63 Increased By ▲ 0.88 (3.87%)
WTL 1.30 Increased By ▲ 0.02 (1.56%)
BR100 6,648 Increased By 103 (1.57%)
BR30 22,570 Increased By 271.7 (1.22%)
KSE100 64,579 Increased By 875.1 (1.37%)
KSE30 21,889 Increased By 381.2 (1.77%)

Australian shares fell for a fourth straight session on Friday, with financials leading the declines, as investors remained cautious amid a dim growth outlook and renewed bank contagion fears following signs of stress at another US regional lender.

The S&P/ASX 200 index fell 0.2% to 7,175.80 by 0027 GMT.

For the week so far, the benchmark is down about 1.7% and is set for its worst weekly fall since mid-March. Financial stocks fell 0.9% on Friday and eyed their worst week in more than two months.

National Australia Bank extended losses and fell after over 3%, a day after reporting lower-than-expected half-year profit.

ANZ Group Holdings slipped 2.3% after warning of a tough second-half amid stiff competition in retail banking, even as it posted a 22.8% rise in first-half profit.

Australia shares slip as financials weigh; NAB slumps

Its “big four” peers Commonwealth Bank of Australia and Westpac Banking Corp fell 1.2% and 0.8%, respectively.

The sentiment was also soured after PacWest Bancorp’s move to explore strategic options deepened fears about the health of US lenders and hit shares of regional US banks overnight.

Among other sectors, miners dropped 0.6% after iron ore futures hit five-month lows.

Sector majors BHP Group and Rio Tinto retreated 0.9% and 1.2%, respectively.

Energy stocks fell 0.2%. Oil prices held steady but were set for a third straight week of losses.

Gold stocks rose 1% to mark their third consecutive session of gains.

Bullion prices were hovering near record highs as US banking concerns accelerated a flight to the safe-haven asset.

Newcrest Mining and Northern Star Resources gained about 1.5% and 0.7%, respectively. New Zealand’s benchmark S&P/NZX 50 index fell 0.7% to 11,888.80.

Comments

Comments are closed.