Overview
- Australian shares slipped again on Friday and finished the week down as falls in miners and utilities outweighed a modest lift in the big banks.
- Commonwealth Bank, which tumbled about 10% midweek and erased roughly $30 billion in value, clawed back part of the loss with a late-week rise.
- Brent crude hovered near US$107 a barrel on persistent Strait of Hormuz risks, and RBC warned investors not to expect a quick reopening for shipping.
- VanEck said market leadership is tilting away from the major banks toward resource stocks, noting BHP’s year-long surge and its return to the top spot on the ASX after the bank sell-off.
- Volatility stayed high in single names, with Mineral Resources sinking more than 7% after managing director Chris Ellison disclosed a large on‑market share sale.