ASX has best week since 2022 despite ceasefire strain
The Australian stock market is down on the final day of what has been a solid week of trade. -AAP Image
Australia's share market has notched its best week since October 2022, despite slipping ahead of key US-Iran ceasefire talks and with little sign Iran's Hormuz Strait blockade is easing.
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The S&P/ASX200 fell 12.6 points on Friday, down 0.14 per cent, to 8,960.6, as the broader All Ordinaries lost 13.1 points, down 0.14 per cent, to 9,155.8.
Despite the pullback, the top-200 had its best week since October 2022 with a 4.3 per cent gain, buoyed by a fragile US-Iran ceasefire before talks that could reopen the Strait of Hormuz, a choke point for a fifth of global oil and gas shipments.
The Australian dollar is buying 70.71 US cents, up from 70.39 US cents on Thursday at 5pm.
