2026.04.1700:44:59UTC+00Australian Equities Extend Slide, Weekly Drop Looms

Australian shares fell 37 points, or 0.4%, to 8,918 in early Friday trade, extending losses into a second session and putting the market on track for its first weekly decline in four weeks, down 0.5% so far. Sentiment continued to deteriorate on the back of soft domestic data: April inflation expectations climbed to a three-year high, while March employment recorded its smallest increase in four months. Externally, concerns over slower growth in key trading partner China, amid ongoing Middle East tensions, weighed on the market despite stronger-than-expected Q1 GDP data. Losses were limited, however, by firmer U.S. futures after President Donald Trump signaled the Iran conflict could soon be resolved, with Israel and Lebanon agreeing to a 10-day ceasefire. Retail, logistics, and financials led the declines, partially offset by gains in commercial services and consumer stocks. Notable underperformers included Cochlear (-2.2%), Ramelius Resources (-2.1%), and Perseus Mining (-1.6%), while the big four banks lost between 0.3% and 1.1%.