Jan 10 (Reuters) - Australian shares were flat on Friday, as heavyweight mining stocks offset losses in financials, while investors perused the weaker-than-expected domestic retail sales data that raised bets on a rate cut as early as next month.

The S&P/ASX 200 index .AXJO traded at around 8,329.3 points by 2342 GMT. The benchmark is on track to record 1% weekly gain in its second rise in three weeks.

Retail sales saw the biggest increase in 10 months in November 2024 as Black Friday discounting drew cost-conscious shoppers, but the rise missed forecasts suggesting the boost poses no impediment to the Reserve Bank of Australia $(RBA)$ cutting rates at its February meeting.

Mining stocks .AXMM, which occupy nearly a quarter of the resource-heavy bourse, advanced 0.9% after iron ore prices rebounded on Thursday aided by top consumer China's latest stimulus measures. IRONORE/

The sub-index is poised to finish a third straight week in the green. Sector majors BHP BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX gained 1.2%, 1.5% and 0.2%, respectively.

Heavily-weighted financials .AXFJ, which have long benefited from higher-for-longer rates, dropped marginally, with two of the 'Big Four' banks in the red. The sub-index is, however, set to end the week 2% higher.

Energy stocks .AXEJ eased on the day despite higher crude prices but are set to log three consecutive weeks of gains. O/R

Sector heavyweights Woodside Energy WDS.AX traded flat and Santos STO.AX slipped 0.1%.

Gold miners .AXGD logged four straight days of gains and are set for their best week since Nov. 18, 2024, with sub-index majors Northern Star Resources NST.AX and Evolution Mining EVN.AX adding 1% each.

New Zealand's S&P/NZX 50 index .NZ50 edged marginally higher to 12,961.01 points. The benchmark, however, is set for a second consecutive week of losses, shedding 0.8% this week.

(Reporting by Nikita Maria Jino in Bengaluru; Editing by Sumana Nandy)

((Nikita.Jino@thomsonreuters.com;))

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