FX.co ★ Australian Shares Close Flat

The S&P/ASX 200 index finished the trading session virtually unchanged at approximately 8,636, having previously reached a four-month low. This stagnation was primarily due to declines in the financial sector counterbalancing a rise in energy stocks. The financial index dipped by 0.2%, touching its lowest point in over three months. Commonwealth Bank of Australia notably declined by 1%, hitting a seven-month low, after the release of discouraging earnings and a cautionary note on shrinking margins. Conversely, the energy sector saw a boost, increasing by 1.1%, which was its most substantial single-day gain in a week. Woodside Energy Group contributed to this positive trend by rising 0.9%, driven by anticipation of finalizing a liquefied natural gas supply contract with Saudi Aramco next week. Additionally, robust economic data has led investors to revise their outlook on the likelihood of monetary policy easing. Currently, swap markets suggest a mere 36% chance of a rate cut, a significant drop from the 70% probability projected just a week ago. Investors are now eagerly awaiting the Reserve Bank of Australia's meeting minutes, due to be released tomorrow, for further insights into potential policy shifts.