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Australian shares head for fourth weekly loss on oil-driven inflation fears
Australian shares fell for a second straight session on Friday and were on track for a fourth weekly loss in a row, as rising oil prices reignited inflation concerns and added to worries about the outlook for interest rates. The S&P/ASX 200 index slipped 0.5% to 8,661.20 by 0010 GMT, set to shed 0.8% this week as Middle East tensions and a lack of progress in US-Iran peace talks pushed oil prices above $100 a barrel, dampening risk appetite. In Australia, persistent inflation pressures, fuelled by soaring energy bills and heavy investment in data centres, have led markets to price in anoth...
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