By Oliver Gray
Investing.com - The S&P/ASX 200 fell 52.9 points or 0.7% to 7,301.5 during Friday’s trading session, but still posting a weekly advance of 1.3% as lower inflation figures and a less hawkish Powell boosted risk sentiment throughout the week.
Among stocks, Real estate dropped 2.7%, with Goodman Group (ASX:GMG) down 4.1%, Charter Hall Group (ASX:CHC) losing 5.1%, Mirvac Group (ASX:MGR) down 2.6% and Stockland Corporation Ltd (ASX:SGP) falling 1.8%.
Energy lost 2.5% as crude oil prices struggled ahead of a major petroleum producers’ meeting over the weekend. Woodside Energy Ltd (ASX:WDS) dipped 2.6%, Santos Ltd (ASX:STO) lost 3.8% and Beach Energy Ltd (ASX:BPT) retreated 2.4%.
Financials also lost 1% overall as Macquarie Group Ltd (ASX:MQG) fell 1%, Commonwealth Bank Of Australia (ASX:CBA) lost 1.4%, National Australia Bank Ltd (ASX:NAB) dipped 1%, Westpac Banking Corp (ASX:WBC) lost 0.7% and Australia and New Zealand Banking Group Ltd (ASX:ANZ) dropped 1.2%.
Meantime, gold miners surged as a weaker US Dollar Index helped boosted spot prices. St Barbara Ltd (ASX:SBM) added 10.4%, Gold Road Resources Ltd (ASX:GOR) gained 2.2%, Northern Star Resources Ltd (ASX:NST) lifted 1.5%, Perseus Mining Ltd (ASX:PRU) added 3.1% and Evolution Mining Ltd (ASX:EVN) lifted 0.7%.
On the bond markets, Australia 10-Year rates were at 3.397% while United States 10-Year rates were at 3.546%.
In New Zealand, the NZX 50 fell 0.1% to 11,641.9.