The Australian sharemarket advanced on Thursday, buoyed by gains in energy and materials sectors, with the index capping a solid weekly performance as volatility retreated.
The S&P/ASX 200 index climbed 60.2 points or 0.8% to 7,819.1, registering a 2.3% gain for the week. Ten of the 11 major sectors closed in positive territory.
The energy sector led the gains, rallying 3.6% as crude oil prices rose. Santos rose 2.9% after reporting a lift in production to 21.9 million barrels of oil equivalent per day.
Other energy players gained, with Beach Energy gaining 4%, Viva Energy up 4.3%, and Woodside Energy adding 3.9%.
Gold producers surged as spot gold continued their historic streak. St Barbara gained 4%, Evolution Mining lifted 1.7%, and Bellevue Gold added 1.6%.
Major miners also supported the index. Rio Tinto, and Fortescue Metals gained 2.9% and 0.9%, respectively.
BHP gained 1.1%, despite reporting a slight decline in Australian iron ore sales.
On the economic front, Australian employment rebounded in March after a dip in the previous month. However, the unemployment rate ticked up slightly to 4.1%.
Among individual stocks, Insignia Financial gained 3.3% after extending the due diligence period for private equity suitors Bain Capital and CC Capital by four weeks at their request.
In bond markets, Australian government bond yields moved higher, with the 10-year yield up 0.2% to 4.238% and the 2-year yield rising 0.5% to 3.294%.
