10.07.202601:04:27UTC+00Australian Shares Poised for Weekly Losses

Australian equities slipped 0.1% to 8,751 on Friday morning, extending losses for a fifth consecutive session. The move tracked slightly weaker U.S. stock futures, even after Wall Street advanced overnight following President Trump’s comments that Iran was seeking to reach a deal after fresh U.S. strikes on the country.

Sentiment remained cautious after the International Monetary Fund trimmed its 2026 growth forecast for Australia to 1.9%, down from 2.0%, and warned that annual inflation is likely to stay stubbornly high this year at around 4%.

On the sector front, healthcare, retail trade, and transport weighed on the ASX 200, while gains in non-energy minerals, communications, and industrial services helped limit broader declines. For the week, the index is on course for a loss of about 1.0%, following gains in the previous week.

Notable underperformers included Pro Medicus (-4.4%), Reece Ltd. (-2.1%), Lynas Rare Earths (-1.9%), and Ramsay Health Care (-1.4%).