The Australian share market closed lower on Friday as major iron ore miners and banks declined, while Energy companies and robust company updates helped limit broader losses.
The benchmark S&P/ASX 200 Index ended the day down 42.5 points, or 0.5%, at 8,666.9, finishing the week 1% lower as seven of the 11 industry sectors declined.
A 1.9% fall in iron ore futures to US$103.10 a tonne in Singapore - driven by mounting concerns over oversupply - hit the Materials sector.
BHP fell 1.9%, Rio Tinto lost 0.8%, Fortescue Metals dipped 3.4%, and Champion Iron shed 4.9%.
The Financial sector extended its recent retreat, as investors continued to lock in profits following a strong run-up in Commonwealth Bank shares.
Commonwealth Bank and NAB dipped 0.4% apiece, Westpac lost 0.8%, and ANZ fell 0.7%.
Real estate stocks also came under pressure, with Goodman Group down 0.4%, while Mirvac and Charter Hall dipped 0.5% each.
Gold miners fell as traders grew more confident the U.S. Federal Reserve would hold rates steady for the time being, dampening gold prices.
Northern Star dropped 2.8%, and Evolution Mining fell 3.2%.
However, Newmont bucked the trend, climbing 3.7% after reporting a record US$1.7 billion in cash flow.
The energy sector offered a bright spot, lifted by rising oil prices amid fresh optimism surrounding U.S. trade talks.
Woodside Energy rose 3.7%, while Santos gained 1%.
In corporate news, KMD Brands advanced 4.4% after appointing Qantas executive Carla Webb-Sear as its new chief financial officer.
Investment manager Regal Partners surged 9% after reporting a 7% rise in funds under management during the June quarter.
Meanwhile, micro-cap security software developer Icetana rocketed 26.2% after announcing quarterly revenue of $490,000, up 13% from Q3 FY25.
On the bond markets, the 10-year and 2-year Australian government bond yields stood at 4.35%, and 3.408%, respectively.
