{
  "id": 19771769,
  "title": "Australian shares retreat as oil surges, banks and miners weigh",
  "url": "https://urgent.news/2026/11/13/australian-shares-retreat-as-oil-surges-banks-and-miners-weigh",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-13T06:45:12.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448740/australian-shares-retreat-as-oil-surges-banks-and-miners-weigh"
  },
  "original_language": "en",
  "account": "Australian shares continued their decline for a second consecutive day on Friday, with most sectors trading in negative territory. Banks and miners were the worst performers, while investor sentiment suffered due to rising geopolitical tensions. The S&P/ASX 200 index closed at 9,101.70, down 0.5% by 23:21 GMT. Although the index slipped 0.1% on Friday, it was on track for a third week of gains, with a projected 1% increase. Early this week, Australian markets enjoyed a rally along with global peers, following oil prices reaching multi-month lows after US President Donald Trump downplayed the possibility of renewed strikes on Iran. However, attacks on energy infrastructure in Saudi Arabia and shipping disruptions at the Strait of Hormuz caused oil prices to rise again, adding to inflationary pressures that have troubled economies since the start of the Iran war. Short-term government bond yields rose on Friday, with the 1-year yield hitting 4.966%. Investors will closely watch upcoming monthly employment figures for further guidance. Mining stocks suffered as base metal prices fell, with BHP and Rio Tinto shedding 0.6% and 0.9%, respectively. The sector was expected to rise by 1.8% for the week. Financials fell 0.6% as all \"Big Four\" banks traded in the red, with the sub-index on track for its second weekly loss. Technology stocks slipped 1.2% due to a decline in AI chipmaker Nvidia following CEO Jensen Huang's resignation. Energy stocks were the few beneficiaries, jumping 1.1% with Woodside Energy and Santos rising more than 1% each. In New Zealand, the S&P/NZX 50 index fell 0.3% to 14,210.10, but was poised for a 1.4% weekly advance.",
  "summary": "Australian shares extended their decline for a second day on Friday, as most sectors traded in negative territory with banks and miners shedding the most, while investor sentiment was hampered by resurgent geopolitical tensions. The S&P/ASX 200 was down 0.5% at 9,101.70 by 2321 GMT. The index ended 0.1% lower on Friday, but was on pace to book a third consecutive weekly gain with a roughly 1%…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}