Miners drag Australian shares lower ahead of quarterly production figures

Published on 10/10/2025 at 02:25 am EDT
ASX200 down 0.3% for the week
Miners lose 2.5%, but still log weekly gain
Local production reporting season starts next week
NZ50 logs lowest close in a week
(Reuters) - Australian shares ended marginally lower on Friday, as heavyweight miners snapped a six-session winning streak and investors remained on the sidelines ahead of upcoming quarterly production numbers from commodity firms.
The S&P/ASX 200 index closed 0.1% down at 8,958.3. The main index lost 0.3% for the week, marking its first weekly drop in three.
The metals and mining sub-index was the biggest drag in the benchmark, with a 2.5% slump. In the previous session, it had tracked upbeat iron ore and copper prices to touch an all-time high.
Despite the decline on Friday, the sub-index logged a 0.6% gain for the week.
Quarterly production reports from mining and energy firms will be in focus from next week, with some volatility expected in the benchmark in the near-term, according to Philip Pepe, senior analyst at Shaw and Partners.
Sector majors BHP and Rio Tinto fell 2.1% and 1.7%, respectively.
Gold miners slipped 3.5% as prices of bullion retreated below the crucial $4,000-per-ounce mark.
Northern Star Resources and Evolution Mining declined 2.1% and 3.9%, respectively.
Meanwhile, Reserve Bank of Australia Governor Michele Bullock reiterated that the central bank's concerns about sticky inflation, emphasising policy would be driven by economic data.
Monthly jobs data is due next week, while third-quarter consumer price figures are expected later this month.
"The U.S. and Australian interest rate moves will probably be the biggest driving factor from here. If both pause, the share markets could pause. If we get more cuts this year, markets could test new highs," Pepe said.
Markets currently imply a near 52% chance of a quarter-point reduction in the cash rate at the RBA's November meeting.
Back on the bourse, Australian energy stocks fell 0.7%. Financials rose 0.4%, with the "Big Four" banks climbing between 0.2% and 0.6%. Technology stocks added 1.1%.
New Zealand's S&P/NZX 50 index ended 0.8% lower at 13,467.26, its lowest close since October 2.
 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Sherry Jacob-Phillips) 

Sumber : Reuters