ASX 200 ends flat at 8,731 after Bullock warns on inflation

  • ASX 200 closed flat at 8,731 after early gains faded during Friday’s session.
  • BHP Group gained 1.4%, while Evolution Mining advanced 4.4%.
  • The benchmark fell 0.1% for the week, marking its third consecutive decline.

The ASX 200 finished flat at 8,731 on Friday as gains in technology, industrial services and non-energy minerals offset losses in healthcare, energy and consumer non-durables. Early advances faded after Reserve Bank of Australia Governor Michele Bullock told parliament that inflation remained stubbornly high and upside risks were materializing, leaving further interest-rate increases possible. U.S. stock futures firmed as oil prices and U.S. Treasury yields eased. BHP Group rose 1.4%, while Evolution Mining and Northern Star Resources gained 4.4% and 2.4%, respectively. The big four banks fell between 0.2% and 1.9%, while Xero dropped 4.1% and Bluescope declined 3.1%. The benchmark lost 0.1% for the week, its third consecutive decline, amid caution before Australia’s August labor data due next week, following July’s unexpected rise in unemployment and decline in employment.

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