{
  "id": 6726139,
  "title": "Australian shares head for worst week in six months, miners lose lustre",
  "url": "https://urgent.news/2026/09/11/australian-shares-head-for-worst-week-in-six-months-miners-lose-lustre",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-11T07:18:39.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40439038/australian-shares-head-for-worst-week-in-six-months-miners-lose-lustre"
  },
  "original_language": "en",
  "account": "Australian market shares fell for the fourth consecutive day on Friday, dragged down by heavyweights in the mining sector, amid a broader lackluster performance. This downturn followed the impact of geopolitical tensions in the Middle East, which have caused a spike in energy prices, with crude oil trading above the $100 mark. The S&P/ASX 200 index closed 1.1% lower at 8,727, marking its weakest trading session since early June. The index is projected to tumble 3.2% this week, its most significant decline since early March. Global government borrowing costs are near multi-decade highs, driven by inflation concerns and the prospect of interest rate hikes. Central banks' recent hawkish statements have further fueled expectations of imminent rate hikes in Australia to combat persistent inflation caused by rising fuel prices. The 3-year bond yields reached 5.038% on Friday, the highest level since May 2011. On Sydney's exchange, miners suffered a 3.9% drop, hitting a one-month low. BHP and Rio Tinto declined by 4.4% and 3.1%, respectively. Copper prices, which had climbed to record highs, retreated after Reuters reported that the White House had not yet decided on refined copper tariffs, with officials concerned that higher prices could escalate manufacturing costs. Technology stocks mirrored Wall Street's losses, dropping 1.7%, their lowest since late July. WiseTech Global and Xero were among the biggest losers, shedding 2.7% and 1.2% respectively. Energy stocks, however, were the exception, gaining 0.6% and poised for their strongest weekly performance since mid-August. Woodside Energy and Santos rose by 1.1% each. New Zealand's S&P/NZX 50 index also declined slightly, by 0.2% to 13,687.80, on track to lose 2.4% for the week, its weakest weekly performance since early March. Investors will be monitoring New Zealand's quarterly economic growth figures, expected next week.",
  "summary": "Australian shares declined for the fourth straight session on Friday in broad-based weakness led by heavyweight miners, while traders focused on inflationary concerns and future rate hikes brought on by the Middle East war-led energy shock. The S&P/ASX 200 index slipped 1.1% to 8,727 by 0010 GMT. The benchmark settled 1% lower in its weakest trade since early June on Thursday. The index is on…",
  "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."
}