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2025-09-12 15:14:09
Australian stocks closed up 0.7% on Friday, with expectations of a Fed rate cut boosting financial and mining stocks. ⑴ Australia's S&P/ASX 200 index rose 0.7% to 8,865 points on Friday, reversing the previous day's decline. ⑵ Financials, mining, and gold sectors led gains as market expectations for a Fed rate cut continued to rise. ⑶ The index fell slightly by 0.1% for the week, marking its second consecutive weekly decline, primarily due to global trade uncertainty and the Reserve Bank of Australia's (RBA) likelihood of keeping interest rates unchanged this month. ⑷ The mining sector rose 1.5%, with BHP Billiton up 1.3% and Rio Tinto up 1.1%, supported by stronger copper prices. ⑸ The financial sector rose 1.2%, hitting a weekly high, with all four major banks rising by more than 1%. ⑹ The gold sector rose 2.1%, hitting a record high, bringing the weekly gain to 6.3%, with spot gold prices approaching all-time highs. ⑺ The energy sector bucked the trend, falling 2.4%. Despite geopolitical tensions in the Middle East and Ukraine, weak US demand and concerns about oversupply kept a lid on oil prices.
