23.01.202600:39:32UTC+00Australian Shares Open Flat

In the early trading session on Friday, the S&P/ASX 200 index mostly held steady around 8,850, bringing the previous day's gains to a pause. This stability was due to profit-taking within the banking sector that counterbalanced advances in gold stocks. The financial sector, sensitive to interest rate changes, fell by almost 1% following a significant gain of 1.8% the day before. All of the "Big Four" banks saw declines, with Commonwealth Bank leading the drop, down by 1.7%. A robust job report for December heightened the possibility of the Reserve Bank of Australia implementing monetary policy tightening as soon as February. Energy stocks decreased by 0.7% in response to declining oil prices, while mining stocks showed varied performance. Global mining powerhouse BHP experienced a 0.5% increase, whereas Rio Tinto fell by 1.2%. Conversely, gold miners experienced nearly a 6% surge to reach new peaks, supported by rising gold prices. Additionally, local technology stocks gained 2.8%, spearheaded by Life360, which soared almost 30% to its highest point since December 15, as the company projected full-year revenue of $486–489 million, signaling annual growth between 31% and 32%.