Australian share market: Stocks slip as miners and banks drag; set for weekly gain

Australian share market: Australian shares were on track for a weekly rise, even as the market fell on Friday as losses in miners and banks outweighed gains in energy and gold stocks.

The S&P/ASX 200 index .AXJO fell 0.1 per cent to 8,215.7 by 2323 GMT, with market players awaiting quarterly production results from a slew of mining and energy giants next week for further direction.

Mining heavyweights such as BHP Group BHP.AX and Rio Tinto RIO.AX, as well as oil and gas giants Woodside Energy WDS.AX and Santos STO.AX, are scheduled to report their quarterly production results next week.

The benchmark stock index has risen 0.8 per cent so far in the week in what could be its best week since the week ended Sept. 20.

Miners .AXMM fell 0.3 per cent on Friday, hurt by falling iron ore prices. BHP Group shed 0.6 per cent, while Rio Tinto lost 0.3 per cent.

Iron ore prices fell on Thursday, surrendering their earlier gains over uncertainty surrounding top buyer China's stimulus plans. IRONORE/

Interest rate-sensitive financials .AXFJ inched down 0.2 per cent, with the "Big Four" banks falling between 0.1 per cent and 0.5 per cent. The sub-index has gained 2.1 per cent so far this week and is on track for its best week since the week ended Sept. 20.

Energy stocks .AXEJ rose 1 per cent on Friday after global oil prices closed higher overnight. The sector has lost 1.5 per cent so far this week after four straight weeks of gains.

Woodside Energy rose 1.3 per cent on Friday, while smaller peer Santos climbed 1 per cent.

Gold stocks .AXGD gained 2.1 per cent, aided by higher bullion prices. Gold miner Evolution Mining EVN.AX rose 1.3 per cent.

Globally, US stocks fell overnight following a hotter-than-expected September inflation report.

The US Dow Jones Industrial Average .DJI fell 0.14 per cent. The S&P 500 .SPX declined 0.21 per cent, while the Nasdaq .IXIC lost 0.05 per cent.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 was largely flat. The benchmark has risen 1 per cent so far this week and is set for a second straight weekly gain.