Australia's ASX200 Index Limping After Volatile Week

Australian shares closed out the week on a subdued note, weighed down by concerns over the Iran conflict and tighter global interest rates.

The S&P/ASX200 index fell 1.2 points to 8,731.2, marking a slight decline of 0.01% for the day.

Despite this, local mining stocks bucked the trend, rising by 1.4% as copper and precious metals prices rebounded from recent losses.

Banks and interest rate-sensitive stocks, however, struggled after Reserve Bank governor Michele Bullock outlined a challenging road ahead in the central bank's inflation battle.