Australian shares edged lower on Friday but still managed to snap a three-week losing streak, as investors assessed mixed signals surrounding a potential Middle East peace deal.
The S&P/ASX 200 slipped 9.4 points, or 0.1%, to close at 8,516.3, with seven of the 11 sectors finishing in negative territory.
Despite the daily decline, the benchmark rose 1% over the week, ending a three-week run of losses.
Market sentiment remained cautious as traders digested United States President Donald Trump’s decision to delay a deadline for potential strikes on Iran’s energy infrastructure until April.
The recent volatility marks nearly a month of conflict-driven swings across global markets, with participants continuing to react to rapidly shifting geopolitical developments.
Rate-sensitive sectors led declines on the day. Technology stocks NextDC and Codan fell 7.9% and 5.9%, respectively, alongside real estate investment trusts Goodman Group, Charter Hall and Mirvac.
Financial stocks also posted a mixed performance, as Commonwealth Bank added 0.3%, Westpac gained 0.7%, National Australia Bank dipped 1.3%, and ANZ closed 0.4% lower.
Energy stocks provided relative support, benefiting from elevated oil prices following gains in the previous session.
Santos added 1.3%, and Viva Energy gained 1.6%, although crude prices eased slightly during Friday’s Asian trade as markets evaluated the extension of U.S.-Iran negotiations.
Woodside Energy declined 0.4% after suspending production at its North West Shelf project due to Tropical Cyclone Narelle.
Weebit Nano resumed trading following a halt, with shares dropping 15.9% after completing a fully underwritten $80 million institutional placement.
BlueScope Steel fell 0.4% as it accelerated efforts to unlock value from its 1,200-hectare surplus land portfolio, progressing leasing and development initiatives across New South Wales and Victoria.
On the bond markets, yields moved higher, with the 10-year rate rising 0.5% to 5.101% and the 2-year yield up 0.3% to 4.815%.
