Australian shares continued their decline on Friday, as oil prices continued to climb.
The S&P/ASX 200 Index fell 0.89%, or 78.20 points, to close at 8,741.20.
Overnight on Wall Street, the S&P 500 and the Dow Jones Industrial Average both fell 0.6%, while the Nasdaq Composite declined 0.7%.
Brent crude oil futures soared to trade around $108 per barrel, as the US and Iran continued to trade attacks, while the Iran-aligned Houthis took over the strategic port of Mocha in Yemen, threatening shipping via the Red Sea.
On the domestic front, Australian card transaction activity fell slightly in late August from a historical high earlier in the month, although quarterly growth momentum has continued to strengthen and is now in the 1.3% to 1.5% range, Westpac said.
In company news, GQG Partners (ASX:GQG) said its funds under management (FUM) stood at $149.2 billion as of Aug. 31. The company had reported FUM of $167.6 billion at the close of August 2025. Its shares earlier fell nearly 9%, hitting a record low.
Focus Minerals (ASX:FML) logged AU$0.2995 in earnings per share for the first half, compared with AU$0.7726 a year ago. For the six months ended June 30, revenue was AU$261.5 million versus AU$84.4 million previously.
Lastly, Larvotto Resources (ASX:LRV) logged AU$0.0134 in loss per share for the first half, compared with a loss of AU$0.0304 a year ago. For the six months ended June 30, other income was AU$1.6 million versus AU$1.1 million previously.