05.12.202501:24:19UTC+00Australian Shares Open Little Changed

On Friday, the S&P/ASX 200 remained relatively unchanged, opening at approximately 8,620, as it broke its three-session winning streak. For the week, it was on track for a modest 0.1% gain, with investors closely watching the Reserve Bank of Australia's monetary policy stance. The central bank is anticipated to maintain current interest rates in its upcoming policy meeting next week and into the early months of the following year. Additionally, swaps suggest there is an evenly split likelihood of a rate increase potentially occurring by May 2026.

In sector performance, both financials and interest rate-sensitive real estate stocks saw gains of 0.3%, with three of the major banks presenting a positive performance. Property titan Goodman Group experienced a 0.5% uptick. The gold mining sector also saw a boost, climbing 1.4% buoyed by stable gold prices, with industry leaders Newmont and Northern Star posting increases of 2.4% and 0.6%, respectively. Conversely, the mining giant Rio Tinto declined 3.2% following announcements of cost-cutting measures and asset sales as part of its business simplification strategy. Other notable declines were seen in energy companies Woodside and Santos, down 0.5% and 1.2%, respectively, alongside the biotechnology firm CSL, which fell 1.7%.