The Australian sharemarket rallied from a five-month low on Thursday, with the Technology and Materials sectors leading advances after Nvidia’s blockbuster earnings reignited global appetite for artificial intelligence and growth plays.
The S&P/ASX 200 Index climbed 104.8 points or 1.2% to finish at 8,552.7, as nine of 11 sectors finished in the green.
Materials were among the strongest performers, with heavyweights BHP, Rio Tinto and Fortescue Metals trading 1.9%, 2.2%, and 4.2% higher, respectively.
Gold miners also advanced as bullion retested the key US$4,100 level, lifting 0.3% overnight.
Northern Star added 3.8%, Evolution Mining gained 3.3% and Newmont advanced 1.2%.
Technology shares were a major tailwind for the benchmark. Block surged 10.9%, leading index gains after investors responded positively to its three-year strategic plan.
Xero gained 1.6%, WiseTech Global lifted 2.1%, TechnologyOne added 4.4% and Codan recorded gains of 1.5%.
Financials added further support, with Macquarie rising 2.4%, while Commonwealth Bank and Westpac gained 1.1% apiece, National Australia Bank lifted 1.4% and ANZ finished 0.9% higher.
In company news, DroneShield slipped 4.1%, leading declines on the day after responding to a price query from the market operator, following $70 million worth of share sales by three directors last week, including CEO Oleg Vornik.
The company said the executives did not coordinate the timing of their sales.
Property developer Peet Ltd rose 4.8% after forecasting FY26 net profit of up to $78 million, an increase of 34% on FY25, underpinned by stronger operational momentum and supportive market conditions.
Engineering group Worley fell 3.2% after receiving a second consecutive protest vote against its remuneration report, with 20.42% of votes cast against.
Magellan Financial slipped 0.7% after its head of global equities, Arvid Streimann, resigned amid an investigation into an alleged relationship with a junior employee.
Among small caps, Lake Resources jumped 20.7% after announcing strong progress on its Kachi Lithium Brine Project, including significant resource upgrades and reduced cost projections.
On the bond markets, yields edged higher, with 10-year and 2-year government bond rates up 0.2% and 0.3% to 4.47% and 3.705%, respectively.
