Australia: Shares set for sharp weekly decline as recession fears grow

The Business Times | Aug 16, 2019 at 12:00 AM
  • Australian shares were little changed on Friday as recession fears offset the boost from financial stocks with the benchmark on track to post its third straight week of declines.
  • Three of the country’s “Big Four” banks – Commonwealth Bank of Australia, Westpac Banking Corp and National Australia Bank – advanced 0.4 per cent to 0.7 per cent.
  • Safehaven gold stocks clawed back Thursday’s gain with the gold index off 1.1 per cent.