Australian Shares Poised for Weekly Losses

Australian equities edged down 0.1% to 8,751 on Friday morning, retreating for the fifth straight session as U.S. stock futures were slightly lower following gains on Wall Street overnight after President Trump said Iran wanted to make a deal after the U.S. launched fresh strikes against the country. Meanwhile, caution lingered after the International Monetary Fund cut its 2026 growth forecast for Australia to 1.9% from the previous projection of 2%, warning that annual inflation will remain stubbornly high this year at around 4%. Healthcare, retail trade, and transport dragged the ASX 200, though strength in non-energy minerals, communications, and industrial services capped declines. For the week, markets are on track to post a weekly decline, down around 1.0% so far after gaining in the prior period. Among notable laggards were Pro Medicus (-4.4%), Reece Ltd. (-2.1%), Lynas Rare Earths (-1.9%), and Ramsay Health Care (-1.4%).

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