The Australian sharemarket closed higher on Friday, as improved global trade sentiment and stronger oil prices lifted investor confidence following a flat start.
The S&P/ASX 200 Index added 39.5 points, or 0.5%, to finish at 8,231.2, touching fresh 9-week highs during intraday trade. nine of the index’s 11 sectors finished in the green.
Gains were led by the technology sector, with Xero up 2.7%, WiseTech Global gaining 1.1%, and Technology One adding 0.3%.
Bank stocks rebounded after recent heavy selling following mixed earnings from Westpac and ANZ earlier in the week.
Macquarie Group rose 3.8% following a full-year profit increase, while Commonwealth Bank gained 0.9% and Westpac lifted 2.3%.
Investor optimism was bolstered by a newly announced United States-United Kingdom trade framework that will reduce or eliminate tariffs on British exports such as cars, steel and aluminium.
Attention also turned to upcoming U.S.-China trade talks in Switzerland, where U.S. Treasury Secretary Scott Bessent will meet Chinese officials over the weekend.
Energy stocks benefited from a 3% weekly rise in Brent crude, partially retracing last week’s steep losses.
Woodside and Santos each gained 1% and 1.4%, respectively, tracking the rebound.
In corporate news, CoStar finalised a $3 billion acquisition of property listings platform Domain after prolonged negotiations.
Domain, majority-owned by Nine Entertainment, rose 3.1%, while Nine surged 6%.
Meanwhile, Healius plunged 25% after the company revealed plans to return $300 million to shareholders through a fully franked special dividend of 41.3 cents per share.
News Corporation popped 4.8% after reporting a 67% surge in net income from continuing operations.
REA Group dipped 2% despite an 18% rise in commercial revenues through March, as investors reacted to rival Domain’s buyout news.
Bond yields edged higher. The 10-year Australian government bond yield climbed 1.3% to 4.305%, while the 2-year yield rose 0.2% to 3.397%.
