Australia’s sharemarket slipped on Friday and energy stocks continued to climb as uncertainty about US-Iran peace talks continues to smash investors confidence.
The benchmark ASX 200 slipped 9.40 points or 0.11 per cent to close the week at 8516.30, while the broader All Ordinaries fell 13.70 points or 0.16 per cent to 8712.80.
Despite Friday’s falls, the Australian sharemarket had its first weekly gain since the Middle East conflict began on February 28.
Even so, the ASX 200 almost entered a correction, with the benchmark falling as much as 9.1 per cent peak to trough, with investors selling off more than $300bn in assets.