The S&P/ASX 200 slipped 0.1% to finish at 8,947 on Friday, extending the previous session’s losses as weakness in healthcare, logistics, and retail weighed on the benchmark. The index recorded its first weekly decline in four weeks, easing about 0.2%, as concerns over rising costs persisted after April inflation expectations in Australia climbed to a three-year high.
In a further sign of policy tension, the International Monetary Fund urged the Albanese government to avoid broad-based cost-of-living support that could fuel inflation. At the same time, RBA Deputy Governor Andrew Hauser warned of a potentially sharp income shock stemming from oil price spikes linked to the war involving Iran.
Losses on the day were limited, however, by assurances that Australia’s fuel supplies remain secure despite a fire at Viva Energy’s refineries. Energy Minister Chris Bowen cautioned that the incident had occurred at a particularly challenging moment, given the added pressures from conflict in the Middle East.
Among the major laggards were Whitehaven Coal (-5%), Ramelius Resources (-3.4%), Reece (-3.2%), and Yancoal Australia (-2.8%). The big four banks also mostly closed in negative territory.
