Australian shares slip as miners' losses outweigh gains in banks
The S&P/ASX 200 fell 0.4% as softer metals and gold prices hit miners while banks rose. Brent hit a five-month high amid Middle East fighting, Reuters reported.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
Australian shares fell on Friday as losses in mining stocks, hit by softer commodity prices, outweighed gains in the banking sector. According to Reuters, the S&P/ASX 200 dropped 0.4% to 8,762.80 by 0104 GMT and is on track for its first weekly decline in four weeks.
Fighting between Saudi Arabia and Yemen's Houthis intensified, raising concerns about oil supply and pushing Brent crude to a five-month high. Gold producers lost more than 4%, while iron ore and copper prices also weakened.
why it matters
For investors, the pressure fell mainly on the resources sector: gold stocks are down nearly 9% this week and heavyweight miners more than 7%. Higher oil supports energy shares, but overall sentiment weakened on geopolitical risk and doubts over AI spending by tech firms.
market impact
Australian equities: weaker miners drag the index lower; higher oil supports energy stocks
instruments
sources
- Australian shares slip as mining losses offset bank gains — Reuters, 23 October 2026 at 01:07 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗