Corrects to drop reference to the stock market rallying in the previous two sessions

Aug 8 (Reuters) - Australian shares inched lower on Friday as banks and energy stocks declined, while investors braced for peak corporate earnings and the local central bank's rate decision next week.

The S&P/ASX 200 index .AXJO eased 0.1% to 8,827.10 points by 0048 GMT. It had slipped below the psychologically key 8,800-level to 8,794.50 points earlier in the day.

Market participants are now awaiting results from some of the largest Australian companies next week, including the Commonwealth Bank of Australia $(CBA)$ CBA.AX, Westpac WBC.AX and ANZ Group ANZ.AX.

On the local bourse, financials .AXFJ fell 0.4%, with three of the "Big Four" banks losing between 0.2% and 0.5%.

QBE Insurance QBE.AX lost 4.1% despite beating market estimates for half-year interim earnings.

Energy stocks .AXEJ fell 0.3% as oil slipped for the sixth straight session after the Kremlin said President Vladimir Putin would meet U.S. President Donald Trump in the coming days, raising hopes for a diplomatic end to the war in Ukraine. O/R

Woodside Energy WDS.AX and Santos STO.AX shed 0.7% and 0.1%, respectively.

Meanwhile, miners .AXMM rose 1.2%, capping losses on the benchmark, with Rio Tinto RIO.AX and BHP BHP.AX gaining 0.8% and 0.9%, respectively.

Gold stocks .AXGD advanced 1.6% tracking a jump in bullion prices, buoyed by safe-haven demand after Trump's tariffs took effect. GOL/

Evolution Mining EVN.AX rose 1.5%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 inched 0.1% higher to 12,902.88 points.

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Sumana Nandy)

((shivangi.lahiri@thomsonreuters.com))

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