Asia
ASX Preview: Australian Shares to Fall as Oil Slides on Weak Demand; QBE Insurance Group H1 Adjusted Earnings, Gross Written Premium Up
Australian shares are poised to fall on Friday as oil prices declined more than 2% overnight on signs of weakening global demand and a sharp rise in US crude inventories, despite lingering concerns over Middle East supply disruptions.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.7%, 0.8%, and 0.1%, respectively.In the macroeconomy, Australia's mid-sized housing markets enjoy a substantial buffer against the ongoing downturn in home values, while Melbourne has the smallest buffer of any major capital city, according to a Cotality analysis published Friday.In corporate news, QBE Insurance Group (ASX:QBE) reported Friday first-half adjusted earnings of $0.683 per share on gross written premium of $15.14 billion, compared with adjusted earnings of $0.655 on gross written premium of $13.82 billion a year earlier.IPD Group (ASX:IPG) reported Friday fiscal 2026 underlying earnings of AU$0.297 per share on revenue of AU$414.3 million, compared with underlying earnings of AU$0.253 on revenue of AU$354.7 million a year earlier.Australia's benchmark index fell 0.2%, or 20.9 points, to close at 9,188.50 on Thursday.
ASX 200ASX:IPGASX:QBE
