ASX Preview: Australian Shares Set to Fall as Gold Slips, Fed Rate-Cut Doubts; Lovisa Holdings Reports Over 26% Sales Growth in First 20 Weeks of Fiscal 2026
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Australian shares are poised to fall on Friday as gold declines and investors digest a mixed US jobs report that casts doubt on a Federal Reserve rate cut next month.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.6%, 2.2%, and 0.8%, respectively.
In the macroeconomy, Australia’s business activity accelerated in November, driven by stronger service sector growth and a rebound in goods orders, as companies reported higher output, job creation, and improved business confidence, according to a survey by S&P Global released Friday.
In corporate news, Lovisa Holdings (ASX:LOV) reports an over 26% year-over-year rise in global sales for the first 20 weeks of fiscal 2026, driven by the continued expansion of its store network and a 3.5% increase in comparable store sales, according to a Friday Australian bourse filing.
Oceania Healthcare (ASX:OCA, NZE:OCA) reported Friday that it swung to a profit of NZ$0.007 per share in the fiscal first half on revenue of NZ$131.6 million, compared with a loss of NZ$0.024 on revenue of NZ$132.6 million a year earlier.
Australia’s benchmark index rose 1.2% or 104.8 points to close at 8,552.70 on Thursday.
