AIRLINK 170.57 Decreased By ▼ -2.58 (-1.49%)
BOP 11.18 Increased By ▲ 0.53 (4.98%)
CNERGY 8.41 Decreased By ▼ -0.11 (-1.29%)
CPHL 99.73 Increased By ▲ 2.27 (2.33%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.15 Decreased By ▼ -0.27 (-1.75%)
FLYNG 27.55 Decreased By ▼ -0.58 (-2.06%)
HUBC 137.78 Decreased By ▼ -1.13 (-0.81%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.54 No Change ▼ 0.00 (0%)
KOSM 5.36 Decreased By ▼ -0.19 (-3.42%)
MLCF 62.40 Increased By ▲ 0.14 (0.22%)
OGDC 212.16 Decreased By ▼ -2.59 (-1.21%)
PACE 5.42 Decreased By ▼ -0.13 (-2.34%)
PAEL 47.18 Increased By ▲ 2.32 (5.17%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.36 Decreased By ▼ -0.38 (-3.54%)
POWER 12.33 Increased By ▲ 0.07 (0.57%)
PPL 169.60 Decreased By ▼ -4.27 (-2.46%)
PRL 35.85 Decreased By ▼ -0.37 (-1.02%)
PTC 23.09 Decreased By ▼ -0.47 (-1.99%)
SEARL 96.26 Increased By ▲ 0.95 (1%)
SSGC 39.52 Increased By ▲ 0.39 (1%)
SYM 13.84 Decreased By ▼ -0.18 (-1.28%)
TELE 7.15 Decreased By ▼ -0.08 (-1.11%)
TPLP 10.03 Decreased By ▼ -0.26 (-2.53%)
TRG 63.48 Decreased By ▼ -1.20 (-1.86%)
WAVESAPP 9.99 Decreased By ▼ -0.05 (-0.5%)
WTL 1.31 Decreased By ▼ -0.02 (-1.5%)
YOUW 3.66 Decreased By ▼ -0.04 (-1.08%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)

Australian shares were flat on Friday, as heavyweight mining stocks offset losses in financials, while investors perused the weaker-than-expected domestic retail sales data that raised bets on a rate cut as early as next month.

The S&P/ASX 200 index traded at around 8,329.3 points by 2342 GMT.

The benchmark is on track to record 1% weekly gain in its second rise in three weeks.

Retail sales saw the biggest increase in 10 months in November 2024 as Black Friday discounting drew cost-conscious shoppers, but the rise missed forecasts suggesting the boost poses no impediment to the Reserve Bank of Australia (RBA) cutting rates at its February meeting.

Australian shares snap 5-day winning run; Fed minutes raise rate cut concerns

Mining stocks, which occupy nearly a quarter of the resource-heavy bourse, advanced 0.9% after iron ore prices rebounded on Thursday aided by top consumer China’s latest stimulus measures.

The sub-index is poised to finish a third straight week in the green.

Sector majors BHP, Rio Tinto and Fortescue gained 1.2%, 1.5% and 0.2%, respectively.

Heavily-weighted financials, which have long benefited from higher-for-longer rates, dropped marginally, with two of the ‘Big Four’ banks in the red.

The sub-index is, however, set to end the week 2% higher. Energy stocks eased on the day despite higher crude prices but are set to log three consecutive weeks of gains.

Sector heavyweights Woodside Energy traded flat and Santos slipped 0.1%.

Gold miners logged four straight days of gains and are set for their best week since Nov. 18, 2024, with sub-index majors Northern Star Resources and Evolution Mining adding 1% each.

New Zealand’s S&P/NZX 50 index edged marginally higher to 12,961.01 points. The benchmark, however, is set for a second consecutive week of losses, shedding 0.8% this week.

Comments

200 characters