Business
ASX logs second week of losses as banks, miners weigh
Australia’s share market has fallen for a fourth-straight session, with banks and miners weighing heavily on the bourse as the Persian Gulf conflict dims the global economic outlook.
The S&P/ASX200 slipped 6.9 points on Friday, down 0.08 per cent, to 8,786.5, as the broader All Ordinaries lost 17.8 points, or 0.08 per cent, to 9,006.4.
The All Ordinaries fell 162.3 points, or 1.77 per cent, for the week.
Energy, utilities stocks and the traditionally defensive consumer staples sector had a positive week, buoyed by rising oil prices with no end in sight to the US-Iran conflict that has strangled a key crude shipping route.
The Australian dollar is buying 71.29 US cents, down from 71.52 US cents on Thursday at 5pm.
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