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Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.Zip (ASX:ZIP): 41 million sharesArafura Rare Earths (ASX:ARU): 39.5 million sharesCore Lithium (ASX:CXO): 37.2 million sharesDateline Resources (ASX:DTR): 32.9 million sharesTabcorp Holdings (ASX:TAH): 15.2 million shares
Information technology stocks were leading gainers with a rise of 1.4% in midday trading on Friday.WiseTech Global (ASX:WTC) was up nearly 4%, and Xero (ASX:XRO) was marginally higher.On the flip side, consumer discretionary stocks were down 0.8% to lead decliners.Kmart owner Wesfarmers (ASX:WES) was shedding more than 1%, while Aristocrat Leisure (ASX:ALL) fell nearly 1%.
Card activity in Australia rose 1.2% over the March quarter, with quarterly momentum subdued and slowing on the 2% average seen over the June, September, and December quarters in 2025, according to a Friday report by Westpac.The Westpac-DataX Card Tracker Index declined 2.2 points over the three weeks to April 11, reflecting a mix of factors including the reduction in fuel excise tax, some easing in the pull-forward of fuel purchases, and a continued moderation in non-fuel segments.The increase in fuel prices and lift in volumes drove a 1.9% gain in March, but the temporary halving in fuel excise tax contributed to a pullback in the first two weeks of April. Nonfuel activity rose 0.5% in March but is tracking a monthly contraction of 1.1% as of mid-April.Non-fuel spend is tracking at a slow 0.7% to 0.9% quarter-over-quarter pace. Card activity is tracking at 1.1% as of mid-April.Some of the softness in April may be a residual holiday-related drag, the report noted. The slowing is broad-based, reflecting the common drivers of around both fuel and non-fuel spend. Overall, the rise in card activity in the March quarter is likely to be flat or down slightly once adjusted for price effects.
Australian shares are poised to fall on Friday as geopolitical tensions in the Middle East ease only tentatively, with markets digesting reports that the US and Iran are exploring a potential ceasefire extension alongside ongoing uncertainty over the Strait of Hormuz and global energy flows.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.3%, 0.4%, and 0.2%, respectively.In the macroeconomy, investors are eyeing the release of the Westpac leading index and the S&P Global flash manufacturing, services, and composite purchasing managers' index reports next week.In corporate news, Alcoa (ASX:AAI) reported Friday first-quarter adjusted earnings of $1.40 per share on revenue of $3.19 billion, compared with adjusted earnings of $2.15 on revenue of $3.37 billion a year earlier.Insurance Australia Group's (ASX:IAG) proposed acquisition of RAC Insurance has the potential to substantially reduce competition and therefore necessitates an in-depth phase 2 review, the Australian Competition and Consumer Commission (ACCC) said Friday.Australia's benchmark index fell 0.3% or 23.7 points to close at 8,955 on Thursday.
Protracted energy supply disruptions due to the Middle East conflict would weaken the credit profile of 15% of rated Asia-Pacific corporates, S&P Global Ratings said in a Thursday release.The figure under this downside scenario is greater than the 9% forecast under S&P's base case of a nearer end to the conflict.Sectors most vulnerable to the downside case include chemicals, downstream oil and gas, airlines, automotive, engineering and construction, and building materials, S&P said.The rating agency expects countries with depleting energy reserves to be impacted first, with subsidy efforts postponing some impact but ultimately pressuring countries' financial positions.The impact of the oil shock will vary across firms in different countries and even within the same sector, S&P said.However, supply chain diversification, inventory management, and timely cost passthrough should aid sectors in anchoring credit quality, S&P said.
Asia-Pacific governments have been adopting several efforts to mitigate the near-term credit effects of the Middle East energy shock, although these measures transfer the pressure onto public finances, Fitch Ratings said in a recent release.Governments have been countering energy supply pressure through subsidies, price caps, administrative curbs, and energy import diversification, Fitch said.Vietnam has stretched its fuel tax suspension until Jun and eliminated import tariffs until April.Malaysia raised its monthly petrol and diesel subsidy bill, while Singapore increased its corporate tax rebate and carried out reliefs.In India, the government pulled back on full customs duties on 40 petrochemical products while reducing special excise duties on petrol and diesel.These efforts should lessen short-term inflation and social risks, offering a buffer against sudden demand weakness and operating pressure for corporates, the rating agency said.On the other hand, the measures also create strains on sovereign balance sheets, state-tied entities, and regulated energy frameworks, with diverging credit impacts across sovereigns and energy and regulated utility entities, Fitch said.The rating agency considers price controls as causing market signal disruptions and can add more credit stress.Pakistan, the Philippines, and Thailand have permitted domestic fuel price movements while Indonesia and India have maintained pump prices, Fitch said.China increased prices to levels below cost increases, while South Korea will not have fuel price cap changes for the next few weeks.Thailand requires price reductions, while the Philippines paused its electricity spot market to control increases in electricity bills.Fitch considers the actions as anchoring near-term affordability but disruptive to the profitability of energy entities under delayed compensation.State-linked companies' growing role in supporting energy needs amid the shock could dampen their standalone credit profiles, Fitch said.
Australia's seasonally adjusted unemployment rate logged at 4.3% in March, unchanged from March, reported the Australian Bureau of Statistics (ABS) on Thursday.The nation's labor participation rate, that is the percent of adults working or seeking work, also remained unchanged in March from February, at 66.8%.Likewise, the employment-to-population ratio remained at 64.0%, unchanged in March from the previous month.In March, there were 14.76 million people employed in Australia, up 0.2% on month and up 1.4% on year, reported the ABS.In somewhat better news, the cumulative number of hours worked by all employees in Australia in March rose 0.2% on month and 2.0% on year, said the ABS.Australia's employment picture may remain largely unchanged through 2026, if a recent forecast from the nation's central bank holds water.In February, the Reserve Bank of Australia said it expects Australian gross domestic product (GDP) expand by about 1.8% in 2026, undergirded by household consumption and public spending.The nation's unemployment rate should end the year near 4.3%, the same as the April rate, according to the RBA forecast.
Australian shares fell on Wednesday's close amid optimism about a US-Iran ceasefire.The S&P/ASX 200 Index fell 23.70 points, or 0.26%, to close at 8,955.The US and Iran are weighing further talks as mediation efforts continue to prevent the resumption of the conflict in the Middle East. Brent crude oil futures were steady at $95.02 per barrel. Spot gold climbed nearly 1% to $4,830.82 per ounce.On Wall Street, the Nasdaq rose 1.6%, and the S&P 500 climbed 0.8% to reach record closing highs on Wednesday. Meanwhile, the Dow Jones slid 2%.On the domestic front, Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million.Australia's consumer inflation expectations rose by 0.7 percentage points in April to 5.9%, driven largely by a recent spike in oil prices, according to the Melbourne Institute Survey of Consumer Inflationary Expectations.In company news, Ora Banda Mining (ASX:OBM) said gold production in the March quarter rose 21% to 38,766 ounces from the December 2025 quarter, with 38,637 ounces sold and fiscal 2026 year-to-date production totaling 101,200 ounces. Its shares rose 9% on market close.Netwealth Group (ASX:NWL) reported funds under administration of about AU$125.79 billion at the close of the March quarter, up almost 21% from AU$104.08 billion at the end of the same quarter a year earlier. Its shares closed up 6%.Lastly, Viva Energy Group (ASX:VEA) requested an immediate trading halt on the Australian Securities Exchange as it prepares to announce the impact of a significant fire at its Geelong Refinery. The facility, one of only two refineries still operating in Australia, has a processing capacity of 120,000 barrels of oil per day, and it reportedly accounts for 10% of Australia's fuel supply and 50% of the fuel used in Victoria.
The higher interest rates and increased economic uncertainty are expected to weigh on labor demand, with the unemployment rate to average 4.5% over the final quarter of the year, ANZ Research said in a note on Thursday.Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million.The bank expects to see some softening in the labor market over the coming months in the wake of the conflict in the Middle East.It expects a "subtle shift" in the Reserve Bank of Australia's characterization of labor market conditions following next month's monetary policy board meeting and it expects the central bank will drop the assessment that conditions have tightened recently.
The March labor force data in Australia was broadly in line with expectations, and the trend for employment growth was turning more positive before the onset of the Middle East conflict, Westpac said in a note on Thursday.The lender cautioned that it is too early to expect flow-on effects from the Middle East conflict or from recent interest rate rises to be appearing in labor market measures. The data instead gives a picture of the starting point for the labor market before these forces impact.Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million. Westpac's forecast for employment was 25,000.The data provided clarity that lower unemployment rates around the turn of the year were a result of temporarily weaker participation, not a sustained re-tightening, per the note.The bank's baseline forecast assumes an eight-week closure of the Strait of Hormuz and a gradual recovery in shipping and transit afterwards. In such a case, trimmed mean inflation is expected to peak at around 4% on an annual basis in the second half, and the central bank is expected deliver three more rate hikes in May, June, and August.The labor market is likely to be a "lagging indicator" of the economy, and any flow-through from higher fuel prices or global uncertainty is more likely to show up later in the year, Westpac added. It forecast the unemployment rate to lift to a quarter-average of 4.9% and stay around that level over 2027 as interest rate rises impact.
Information technology advanced 6% to lead gainers in midday trading on Thursday, after US-listed peers drove the S&P 500 and Nasdaq composite to new records on Wednesday.Shares of WiseTech Global (ASX:WTC) rose 7%, while those of Xero (ASX:XRO) increased6%.Meanwhile, energy stocks fell 1% amid continued optimism for a peace deal between the US and Iran.A fire erupted at Viva Energy Group's (ASX:VEA) oil refinery in Geelong overnight, impacting one of the only two refineries that are still operating in Australia. The company requested an immediate trading halt on its securities as it prepares to disclose the impact of the fire.
Australia's consumer inflation expectations rose by 0.7 percentage points in April to 5.9%, driven largely by a recent spike in oil prices, according to the Melbourne Institute Survey of Consumer Inflationary Expectations on Thursday.Trimmed mean measure in April has reached its highest level since November 2022, while trimmed mean wage expectations have remained unchanged over the past five months, the survey added.
Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed Thursday.The consensus forecast was also for 4.3%, according to Trading Economics.The total number of employed people increased by 17,900, bringing the total to 14.8 million.Employment growth was led by an increase of 53,000 full-time workers in March, which was partly offset by a decrease of 35,000 part-time workers, said Sean Crick, the bureau's head of labor statistics.The participation rate edged down 0.1 percentage points to nearly 67% compared with the previous month. The underemployment rate, which refers to the share of workers who want and are available to work additional hours, was flat at 5.9%.The employment-to-population ratio remained at 64%, the report said. Monthly hours worked across all jobs increased by 9 million hours to 2.02 billion hours in March.
Australia's household spending rose 2.9% in March, after a 0.4% fall in February, as transport spending surged 22.9%, according to the Commonwealth Bank of Australia's Household Spending Insights published Thursday.Household spending was up 1%, even excluding transport costs, which were inflated by higher fuel prices, with all 12 categories recording monthly increases, the report added."As expected, the sharp March lift in household spending reflects higher petrol prices as a result of the conflict in the Middle East," CBA Head of Australian Economics Belinda Allen said.The bank expects household spending to slow as real household disposable income growth weakens, easing inflation pressures over time, with the outlook for consumers critical to the movement of interest rates beyond May.Hospitality spending increased 1.2%, and recreation rose 0.9% over the month. Utilities spending rose 6.9% while spending on insurance climbed 2.5%.The bank said that while higher fuel prices initially lifted spending, regional areas are more exposed to prolonged increases given the heavy reliance of agricultural, mining, and freight industries on diesel-intensive operations.Allen added that regional spending is likely to soften if elevated fuel prices persist.
Australian shares are expected to open flat on Thursday as markets weighed renewed optimism from the Trump administration over a possible Iran deal against escalating threats of tighter sanctions on Iranian oil buyers and ongoing disruptions to shipping through the Strait of Hormuz.Overnight, the S&P 500 and the Nasdaq Composite rose 0.8% and 1.6%, respectively, while the Dow Jones Industrial Average fell 0.2%.In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.In corporate news, A fire erupted at Viva Energy Group's (ASX:VEA) oil refinery in Geelong overnight, and firefighters are still working to bring it under control, multiple media outlets reported Thursday.Rio Tinto Group (ASX:RIO) commissioned a new alumina conveyor at its BC Works smelter in Kitimat, Canada, the company said on Thursday.Australia's benchmark index rose 0.1% or 7.9 points to close at 8,978.70 on Wednesday.
The International Monetary Fund has lowered its growth estimates for most Asian economies for 2026, according to a recent release.The organization revised down its growth outlook for emerging Asian economies to 4.9% from a previous prospect of 5% in January, which was before the start of the conflict in the Middle East.Growth for the group will continue to decline to 4.8% in 2027, the IMF said.The organization projects China's economy growing 4.4% this year and 4% next year, while India will post growth of 6.5% for the next two years.Cumulative growth among Southeast Asia's five biggest economies, including Indonesia, Malaysia, the Philippines, Singapore, and Thailand, will fall to 3.7% in 2026 from 4.9%, although this will recover to 4.7% next year, the organization said.Individually, Vietnam will post the strongest growth of 7.1%, although this is still lower than the 8% growth last year.The rest of the economies in the group will also see lower growth, with Indonesia at 5%, Malaysia at 4.7%, the Philippines at 4.1%, and Thailand at 1.5%.Among advanced economies in Asia-Pacific, Korea's growth will rise to 1.9% from 1% last year, while that of Australia will remain flat at 2%.Japan's growth will slow down to 0.7% in 2026 and 0.6% in 2027 from 1.2% last year, according to the IMF.Taiwan will see lower expansion of 5.2% from 8.7% in 2025, while Singapore's growth will come to 3.5%, down from 5% last year.Hong Kong will also observe lower growth of 2.4%, compared to 3.5% in 2025.The IMF forecasts global economic growth to weaken to 3.1% this year from 3.4% last year, accounting for the impacts of the continued conflict in the Middle East.
Credit losses for Asia-Pacific banks could surge by about $180 billion over the next two years under a downward scenario of a prolonged war in the Middle East, S&P Global Ratings said in a Wednesday release.Total biennial credit losses could hit $910 billion over 2026 and 2027 under this scenario, compared with $730 billion under S&P's base case.The rise in credit losses to total loans would hit Vietnam, Indonesia, and India the most under this scenario, S&P said.Under S&P's base case, banks will feel a weaker impact from the war since direct exposures to the Middle East are low and indirect ones are manageable.In a downward scenario, banks will likely be hit by secondary effects on the household, corporate, and government sectors, credit analyst Gavin Gunning said.The impact will be felt more by banks with sizable exposures to susceptible corporate sectors such as airlines, energy, chemicals, and transportation.However, S&P expects bank buffers to be resilient at current rating levels under a downside case.Of more than 400 S&P-rated financial institutions in the region, 92% have ratings with a stable outlook, while only 2.9% are negative.
Australian shares were flat with a positive bias on Wednesday's close as investors weighed reports of a second round of peace talks between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,978.70.US President Donald Trump said talks with Iran could resume in Pakistan over the next two days, even as a US naval blockade on Iranian ports continued. Brent crude oil futures rose 1% to $95.77 per barrel.On Wall Street, the Nasdaq was up nearly 2% on Tuesday, and the S&P 500 climbed 1.2%.On the domestic front, the International Monetary Fund (IMF) cut its economic growth projections for Australia, with gross domestic product (GDP) growth rate now expected to come in at 2% in 2026, compared with the previous forecast of 2.1%, and 1.7% in 2027, down from the earlier forecast of 2.2%.Australia's private sector credit is projected to grow by 7.2% year over year this year, tracking at its fastest pace since 2022, before slowing to 5.7% year-over-year by late 2027, ANZ said in a report.Australian consumer spending rose 2.1% in March, month-on-month, driven by a sharp increase in fuel spending due to higher prices, according to NAB's consumer spend trend report.In company news, Virgin Australia Holdings (ASX:VGN) said that its fiscal year 2026 financial guidance remains unchanged, with the underlying earnings before interest and taxes (EBIT) and underlying EBIT margin in the second half expected to be higher than the prior-year period. Its shares were up 7% on market close.Mesoblast (ASX:MSB) acquired an exclusive license to a patented chimeric antigen receptor technology platform to boost the effectiveness of its products. Its shares rose 7% at close.Lastly, Yancoal Australia (ASX:YAL) said that it entered into binding transaction documentation with EMR Capital Advisors, Kestrel Coal (EMR), Adaro Capital, and EMR Capital Management to acquire Kestrel Coal Group, which holds an 80% interest in the Kestrel coal mine joint venture in Queensland, for up to $2.4 billion. Its shares closed down 2%.
The International Monetary Fund (IMF) cut its economic growth projections for Australia, with gross domestic product (GDP) growth rate now expected to come in at 2% in 2026, compared with the previous forecast of 2.1%, and 1.7% in 2027, down from the earlier forecast of 2.2%, according to a Tuesday report.Global economic growth is projected to slow to 3.1% in 2026 and 3.2% in 2027, while global headline inflation is projected to rise modestly in 2026 before resuming its decline in 2027, assuming the conflict in the Middle East remains limited in duration and scope, according to the IMF's World Economic Outlook. Under this scenario, oil prices are expected to average $82 per barrel for 2026.A longer or broader conflict, worsening geopolitical fragmentation, a reassessment of expectations regarding artificial‑intelligence‑driven productivity, or renewed trade tensions could significantly weaken growth and destabilize financial markets, IMF cautioned.Australia's consumer price growth is projected to clock in at 4% in 2026 and 3.2% in 2027, exceeding most advanced economies.
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