The S&P/ASX 200 opened broadly flat around 9,170 in Friday morning trade, pausing after a two-session record-setting run as weakness in mining and energy stocks weighed on the index. Major miners BHP Group and Rio Tinto led the declines, falling 0.6% and 1%, respectively. The energy sector also slipped, with oil prices steadying amid caution over protracted US–Iran nuclear negotiations. Oil and gas producer Woodside Energy declined 0.7%, while Santos lost 0.8%.
Rate-sensitive sectors, including banks and real estate, remained under pressure as the risk of further policy tightening continued to build. By contrast, gold miners lent support to the broader market, rising nearly 3% to a one-month high. Northern Star and Evolution Mining each gained 2.5%, while Newmont advanced 1.7%. Technology stocks were mostly higher despite weakness among their Wall Street counterparts.
Elsewhere, an Australian trade union has called for urgent talks with WiseTech Global after the company unveiled plans to cut about 2,000 jobs as part of a two-year, AI-driven restructuring program.
