18.09.202601:32:27UTC+00Australia Shares Inch Higher, Weekly Picture Muted

Australian shares edged 14 points higher, or 0.2%, to 8,747 in early Friday trade, extending gains into a third consecutive session. The advance followed an overnight rebound on Wall Street, where easing oil prices and softer Treasury yields helped soothe market jitters after the Federal Reserve’s surprise rate hike. Strength in technology, non-energy minerals, and consumer durables underpinned the local market, while declines in healthcare, energy minerals, and retail trade tempered overall gains. Gold miners were among the standouts, with Northern Star Resources up 2.7% and Evolution Mining rising 3.0%, and Lynas Rare Earths, Perseus Mining, and South32 each climbing more than 2%. On a weekly basis, the domestic market was little changed, consolidating after recent losses as traders assessed testimony to parliament from RBA Governor Michele Bullock. She cautioned that upside risks to inflation are emerging, driven by surging global energy costs linked to the prolonged Middle East conflict, and further exacerbated by demand from the AI data-centre boom and the impact of extreme weather.