The Australian sharemarket finished lower on Friday, closing at its weakest level in six months as uncertainty surrounding United States interest rates weighed heavily on global risk sentiment.
Sentiment deteriorated after the September U.S. nonfarm payrolls report showed 119,000 jobs were created, well above forecasts for 50,000.
The S&P/ASX 200 Index dropped 136.2 points, or 1.6%, to 8,416.5, with nine of the eleven sectors closing in negative territory.
The benchmark is down 2.5% for the week and has lost 5.2% so far in November.
Materials stocks led the declines, sliding 3.9% overall. BHP fell 3.2% after Bloomberg reported that China’s state-owned iron ore buyer had instructed steel mills and traders to halt purchases of a particular BHP product, adding to an existing ban and escalating tensions over a new supply contract.
Rio Tinto dipped 3.2% and Fortescue Metals retreated 5.5%.
Gold miners weakened in tandem with spot prices after the precious metal failed to break above the key US$4,100 resistance level.
Northern Star shed 4%, Newmont lost 6.1% and Evolution Mining closed 4.5% lower.
Among individual stocks, Lovisa sank 13.8% after reporting a moderation in same-store sales growth from earlier strong trading.
Kogan rose 0.7% as the online retailer posted adjusted EBITDA of $10.1 million for the first four months of FY26, a 31.3% decline driven largely by losses in its New Zealand division.
Reece added 2.1% despite reporting an 18% fall in EBIT to $129 million in the September quarter.
Autosports Group slipped 2.3% after agreeing to acquire 10 Barry Bourke Motors dealerships in Victoria for around $34 million, marking a significant expansion of its premium and luxury auto footprint.
Accent Group tumbled 15.4% after cutting earnings expectations due to soft trading conditions and heavy discounting that weighed on early FY26 margins and sales.
Webjet gained 1.7% after BGH Capital increased its takeover offer to 91 cents per share in cash for the stock it does not already own, topping Helloworld’s 90-cent bid earlier in the week.
On the bond market, 10-year and 2-year yields were up 0.5% and 0.7% to 4.466% and 3.696%, respectively.
