Aussie shares lose steam to close record-breaking week
By Adrian Black
The US war on Iran continues to shape sentiment for Australian share traders. -AAP Image
Australia's share market has taken a breather after resetting multiple records, with equities in a holding pattern until the next major catalyst emerges.
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The benchmark S&P/ASX200 fell eight points on Friday, down 0.09 per cent to 9,263.6, after a five-day winning streak and all-time highs in the previous two sessions.Â
The broader All Ordinaries eased by 6.9 points, or 0.07 per cent, to 9,445.1.
Energy stocks rose in line with oil prices after Iran and Oman's plan to reopen the Strait of Hormuz while barring US and Israeli ships dashed hopes of an imminent peace deal.
However, raw materials stocks continued to rally as gold, lithium and rare earths miners soared on lower inflation expectations and upswings in underlying commodity prices.
The Australian dollar is buying 70.28 US cents, down from 70.42 US cents on Thursday at 5pm.
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