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Australian shares slip as mining losses offset bank gains
Australian shares dropped on Friday, as a decline in mining stocks on softer commodity prices outweighed gains in banks, while escalating Houthi attacks on Saudi Arabia fuelled risk-off sentiment. The S&P/ASX 200 index fell 0.4% to 8,762.80 by 0104 GMT. The benchmark is set for its first weekly drop in four weeks. Tensions in the Gulf escalated with fighting between Saudi Arabia and Yemen’s Houthis intensifying, raising worries about oil supply that took benchmark Brent crude prices to a five-month high. Heavyweight miners are down over 7% so far this week, heading for their steepest weekl...
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