The Australian sharemarket edged higher on Thursday, snapping two sessions of consecutive declines as investors rotated back into the Materials sector.
The benchmark S&P/ASX 200 rose 26.3 points or 0.3% to 8,828.3, with six of the 11 sectors finishing in positive territory.
Gold miners led the advance as the precious metal retested the key US$4,000 per ounce level overnight.
Northern Star Resources and Newmont lifted 2.8% apiece, Ramelius Resources added 5.6%, Westgold Resources gained 5.3% and Evolution Mining finished 3.9% higher.
Major miners BHP, Rio Tinto and Fortescue Metals also gained 1.6%, 2.3% and 2.1%, respectively.
Gains were limited by mixed results in the financial sector. National Australia Bank fell 3.3% after reporting full-year cash earnings of $7.09 billion, missing analyst expectations.
Commonwealth Bank added 1.3%, Westpac fell 1.2% and ANZ lifted 0.4%.
In corporate news, Light & Wonder surged 8.2% after the gaming firm posted a 78% jump in quarterly net income to US$114 million, driven by record iGaming revenue.
James Hardie was the session’s biggest laggard, closing 12.7% as the company cited its removal from MSCI’s Australia index for the sharp decline.
Amcor climbed 5% after reporting first-quarter earnings per share of US19 cents, topping forecasts of 18 cents. The packaging giant also reaffirmed its full-year guidance.
Neuren Pharmaceuticals shed 10.4% after quarterly sales of its Rett syndrome treatment rose 11%, short of market expectations.
IGO lost 2% after naming Dr Vanessa Guthrie as its next chair, effective 1 January, succeeding Michael Nossal.
On the bond markets, yields were little changed, with the 10-year at 4.37% and the 2-year at 3.61%.
