ASX Preview: Australian Shares to Fall as Oil Tops $100; Macquarie Group Unit to Acquire Majority Stake in SI Solutions

MT Newswires Live
7 hours ago

Australian shares are poised to fall on Friday as a sharp surge in oil prices above $100 a barrel stoked concerns over inflation and prolonged supply disruptions amid escalating tensions in the Middle East.

Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.6%, while the Nasdaq Composite declined 0.7%.

In the macroeconomy, investors are eyeing next week's Westpac Leading Index report.

In corporate news, Macquarie Group's (ASX:MQG) Macquarie Asset Management unit, alongside co-investors including UniSuper, agreed to acquire a majority stake in SI Solutions from MidOcean Partners.

Focus Minerals (ASX:FML) reported Friday first-half earnings of AU$0.2995 per share on revenue of AU$261.5 million, compared with earnings of AU$0.7726 on revenue of AU$84.4 million a year earlier.

Australia's benchmark index fell past 1%, or 92 points, to close at 8,819.40 on Thursday.

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