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Australian shares are poised to fall on Friday, as oil prices slide to a one-week low, easing geopolitical tensions following softer US threats toward Greenland and Iran, and signs of progress toward a resolution in Russia’s conflict with Ukraine.
Overnight, the S&P 500 and the Dow Jones Industrial Average each rose 0.6%, while the Nasdaq Composite gained 0.9%.
In the macroeconomy, Australia’s business activity surged at the start of 2026, driven by faster growth in manufacturing and services, rising new orders, and continued hiring, according to a survey by S&P Global released Friday.
In corporate news, Alcoa (ASX:AAI) reported Friday adjusted earnings of $1.26 per share in the fourth quarter of 2025 on revenue of $3.45 billion, compared with adjusted earnings of $1.04 on revenue of $3.49 billion a year earlier.
Northern Star Resources (ASX:NST), Newmont (ASX:NEM), and Evolution Mining (ASX:EVN) are in focus as gold surged past $4,900 an ounce for the first time, buoyed by geopolitical tensions, a weaker US dollar, and expectations of Federal Reserve rate cuts.
Australia’s benchmark index rose 0.8% or 65.8 points to close at 8,848.70 on Thursday.