Australian Stocks Fall Further But Head for Weekly Gains

2026-03-26 23:54 By Farida Husna 1 min. read

Australian shares slipped 27 points, or 0.3%, to 8,498 in early Friday trade, extending losses from the prior day after U.S.

markets posted their steepest drop since the Iran war began, driven by surging oil prices and uncertainty over talks.

President Trump said he would extend his pause on threats to strike Iran’s energy infrastructure until April 6, citing a request from Tehran.

Meanwhile, the OECD warned the conflict will test global resilience, with Australia exposed to higher rates and inflation.

An RBA official also voiced concerns, noting prolonged tensions could lift inflation expectations.

Consumer durables, non-energy minerals, and industrial services lagged, but gains in consumer non-durables and energy minerals capped further declines.

Early losers included BHP Group (-0.7%), Northern Star Resources (-3.3%), Lynas Rare Earths (-3.2%), and Evolution Mining (-2.7%).

Despite the weak open, the ASX is tracking its first weekly gain in four, up about 0.8% on bargain hunting.



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Australian Stocks Fall Further But Head for Weekly Gains
Australian shares slipped 27 points, or 0.3%, to 8,498 in early Friday trade, extending losses from the prior day after U.S. markets posted their steepest drop since the Iran war began, driven by surging oil prices and uncertainty over talks. President Trump said he would extend his pause on threats to strike Iran’s energy infrastructure until April 6, citing a request from Tehran. Meanwhile, the OECD warned the conflict will test global resilience, with Australia exposed to higher rates and inflation. An RBA official also voiced concerns, noting prolonged tensions could lift inflation expectations. Consumer durables, non-energy minerals, and industrial services lagged, but gains in consumer non-durables and energy minerals capped further declines. Early losers included BHP Group (-0.7%), Northern Star Resources (-3.3%), Lynas Rare Earths (-3.2%), and Evolution Mining (-2.7%). Despite the weak open, the ASX is tracking its first weekly gain in four, up about 0.8% on bargain hunting.
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