Australian stock market expected to rebound, ending its losing streak

Before Friday's opening, local stock index futures rose by 1.5%, suggesting that the S&P/ASX 200 Index may end its eight-day losing streak and could even recover the 1.4% decline accumulated so far this week. The benchmark index has been falling, weighed down by rising inflation and increasing expectations that the central bank will further raise interest rates. Before the market opened, ANZ announced an increase in first-half profits but also warned that the greatest economic impact from the Iran conflict may not yet have arrived. Qantas said it would extend changes to its flight schedule due to high fuel costs. Supermarket operator Coles stated that the company is facing higher fuel, freight, and packaging costs.