10.07.202606:37:06UTC+00ASX 200 Recovers on Mining Gains Despite Weekly Decline

The ASX 200 climbed 44 points, or 0.5%, to close at 8,806 on Friday, breaking a four-session losing streak after a subdued open, supported by gains in miners, financials, and industrials. Mining stocks advanced as iron ore and copper prices strengthened, with heavyweights BHP Group, Rio Tinto, and Fortescue rising between 2.0% and 3.8%. The major banks also firmed, adding between 0.3% and 0.7%.

Despite Friday’s rebound, the benchmark slipped 0.4% over the week, erasing the previous week’s gains as sentiment turned cautious. Investors reacted to the IMF’s downgrade of Australia’s 2026 growth forecast to 1.9% from 2.0%, alongside a warning that inflation is likely to remain elevated at around 4% this year.

Looking ahead, market participants will be watching a series of key economic releases from China next week — including June trade data, activity indicators, and second-quarter GDP — for insight into demand in Australia’s largest export market. Domestically, focus will also shift to July business and consumer confidence surveys, as well as consumer inflation expectations.