After a busy stretch of earnings announcements, the S&P/ASX 200 edged slightly lower in the final session but still managed to secure a modest weekly gain. The index slipped just 0.05 per cent on Friday to close at 9081.4, yet ended the week up 0.4 per cent overall.
Market performance was shaped by diverging sector results. Technology stocks experienced another round of heavy selling, while utilities and financials provided some stability. Consumer stocks and telecommunications were also under pressure, contributing to six of the eleven major sectors closing in negative territory. The broader All Ordinaries index declined 0.14 per cent as oil prices climbed to a six-month high amid rising geopolitical tensions involving the United States and Iran.
The technology sector was among the weakest performers. WiseTech Global dropped 3.8 per cent and has now fallen significantly over the past month. Xero declined 3.7 per cent. Megaport plunged 11.8 per cent following its half-year results, as investors reacted to an underlying net loss despite strong revenue growth and rising recurring income.
The sell-off highlights continued investor caution toward growth stocks, particularly where profitability remains under scrutiny.
In contrast, energy stocks benefited from stronger oil prices. Woodside Energy gained 1.2 per cent, and Beach Energy rose 0.9 per cent. Meanwhile, Santos slipped 0.9 per cent despite announcing a long-term gas supply agreement with Whyalla Steelworks.
Consumer discretionary and staples stocks broadly declined. Guzman y Gomez tumbled 13.9 per cent to a new low after releasing half-year results and facing slower progress in its US expansion. Baby Bunting fell 6.1 per cent as investors locked in gains following earlier strength.
Aristocrat Leisure, Nick Scali, Dusk Group, and Myer also recorded notable losses. Food producer Inghams Group dropped sharply after reporting a significant fall in first-half profit due to excess poultry inventory.
Not all results disappointed. QBE Insurance jumped 7.1 per cent on strong investment returns and lower natural disaster costs. Gold miner Newmont Corporation declined 4.9 per cent after flagging lower production during global mine upgrades. Shipbuilder Austal climbed 5.5 per cent after securing a major defence contract.
Telix Pharmaceuticals surged 14.2 per cent as revenue projections pointed toward significant growth next year. Investors now turn their attention to upcoming earnings from Lendlease, Ampol, and NIB Holdings, which could further influence market direction in the week ahead.
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