Australian shares set for first weekly drop in six as Middle East conflict weighs

Australian shares hit a two-week low, with the S&P/ASX 200 index down 0.3% at 8,500 points, as Middle East tensions and falling metal prices impacted investor confidence. Key miners dropped 0.6%, marking their worst week since March, while financial stocks also declined. The week has seen a 0.6% overall loss, ending a five-week winning streak.

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