The local share market has finished modestly higher as a four-day ceasefire went into effect between Israel and Hamas, but the gains were not quite enough for the bourse to close in the green for the week.
The benchmark S&P/ASX200 on Friday closed up 11.6 points, or 0.17 per cent, to 7,040.8, while the broader All Ordinaries gained 9.9 points, or 0.17 per cent, to 7,244.1.
The ASX200 lost 8.6 points for the week, a 0.12 per cent drop, with the market seemingly in search of direction with Wall Street out of action overnight for the Thanksgiving holiday.
In Gaza, there was no immediate reports of bombings or rocket fire as a temporary ceasefire took effect between Israel and Hamas for a hostage and prisoner exchange.
Five of the ASX's 11 sectors finished higher, three closed lower and three ended basically flat.
Tech was the biggest mover, dropping 1.7 per cent as Technology One dropped 4.9 per cent and Wisetech Global fell 3.2 per cent to $64.05 as the cloud logistics platform held its annual general meeting.
Chief executive Richard White told shareholders that its 2023/24 outlook faced tailwinds from recent weakness in the Australian dollar, while Wisetech chairman Andrew Harrison also announced his retirement.
Whitehaven Coal added 3.4 per cent to $7.28 as the Queensland government's coordinator general gave initial approval to Whitehaven's Winchester South coking coal project southwest of Moranbah.
Whitehaven called the recommendation an important milestone, while a campaigner for the activist group Market Forces described it as an "astonishing" approval of a "climate bomb."
The utilities sector grew 1.6 per cent, bolstered by Origin Energy. The energy retailer added 2.8 per cent to $8.56 as its board considered a new takeover bid by a Brookfield-led consortium.
The Big Four banks were mostly higher, with CBA gaining 0.7 per cent to $103.69, ANZ up 0.4 per cent to $24.40 and Westpac adding 0.1 per cent to $21.33.
NAB was the outlier, dipping 0.1 per cent to $27.97.
In the heavyweight mining sector, BHP edged 0.1 per cent higher at $47.21, Rio Tinto added 0.2 per cent to $126.80 and Fortescue grew 0.3 per cent to $25.03 as it announced its name change had been completed.
From Tuesday, Andrew Forrest's company will officially be known as Fortescue Ltd, rather than Fortescue Metals Group, reflecting its interest in green energy.
In consumer staples, Select Harvests fell 10.5 per cent to $3.91 as the nut grower announced it incurred a $114.7 million loss for the 12 months ended September 30, compared to a $4.8 million profit the year before.
It had been a challenging fiscal year, Select Harvest said, with cooler and wetter conditions from the third year of La Nina impacting production across nearly all growing regions. Global almond prices are also down.
Adairs climbed 1.7 per cent to $1.49 despite the bedding and homeware retailer announcing that sales had been down nine per cent for the first 21 weeks of 2023/24.
"The impact of higher interest rates and cost of living pressures has seen a significant decline in traffic across each of our businesses," Adairs said.
Bubs fell 18.2 per cent to a six-year low of 13.5c after the infant formula maker completed a $14 million capital raising at a deep discount to support its growth plans in the United States.
The Australian dollar was buying 65.64 US cents, from 65.55 US cents at Thursday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index on Friday finished 11.6 points higher at 7,040.8, a gain of 0.17 per cent.
* The broader All Ordinaries closed up 9.9 points, or 0.14 per cent, at 7,244.1
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 65.66 US cents, from 65.55 US cents at Thursday's ASX close
* 98.03 Japanese yen, from 97.78 Japanese yen
* 60.20 Euro cents, from 60.09 Euro cents
* 52.36 British pence, from 52.43 pence
* 108.39 NZ cents, from 108.41 NZ cents.
