Australian shares slipped 37 points, or 0.4%, to 8,918 in early Friday trade, extending losses for a second session and heading toward the first weekly decline in four, down 0.5% so far. Sentiment continued to weaken on soft domestic data: April inflation expectations surged to a three-year high while employment in March grew the least in four months. Externally, risks of slower growth in top trading partner China amid Middle East tensions weighed, despite stronger-than-expected Q1 expansion. Still, losses were capped by firmer U.S. futures after President Donald Trump signaled the Iran war may end soon, with Israel and Lebanon agreeing to a 10-day ceasefire. Meanwhile, PM Anthony Albanese said a blaze at Viva Energy’s oil refineries would not trigger any fuel restrictions in Australia. Retail, logistics, and financials led declines, with notable laggards from Cochlear (-2.2%), Ramelius Resources (-2.1%), and Perseus Mining (-1.6%). The big four banks fell between 0.3% and 1.1%.
