The Australian sharemarket ticked up on Friday, ultimately finishing the week with small gains as investors navigated a narrow trading range amid shifting expectations for further interest rate cuts.
The S&P/ASX 200 rose 16.2 points or 0.2% to 8,634.6, with five of 11 sectors closing higher. The benchmark gained 0.2% for the week.
Mining stocks outperformed as gold prices hovered near a six-week high on growing bets that the United States Federal Reserve will cut rates next week.
Newmont gained 2.9%, Evolution Mining added 2.6% and Northern Star rose 0.9% after saying recent drilling results supported its $225 million exploration budget.
Explorer IGO was the strongest performer on the ASX 200, jumping 7.1%.
Among the diversified miners, BHP and Fortescue Metals Group posted gains of 0.8% and 2.2%, respectively, while Rio Tinto slipped 1.5% after issuing 2026 production guidance that came in 3% below consensus at its capital markets day.
Technology stocks weakened, with Xero down 1.7%, WiseTech Global falling 0.7% and TechnologyOne closing 2% lower.
Data-centre operator NextDC bucked the sector’s decline, climbing 3.1% after announcing a deal with OpenAI.
The major banks finished higher, with Commonwealth Bank up 0.7%, Westpac adding 1.1%, National Australia Bank up 0.9%, while ANZ finished little changed.
Consumer discretionary stocks were the biggest drag on the session. Premier Investments tumbled 15.9% after its trading update pointed to soft retail conditions.
Wesfarmers fell 1%, Aristocrat Leisure and JB Hi-Fi dippped 1.4% apiece, while Eagers Automotive declined 3.6%.
BetMakers fell 5.4% after signing a definitive agreement to acquire the Las Vegas Dissemination Company, giving it direct access to major U.S. casinos and punters.
Newly listed Saluda Medical slumped 52.1% on debut. The company’s IPO valued it at $775 million, with shares issued at $2.65.
On the bond markets, the 10-year yield ticked up 0.2% to 4.694%, while the 2-year eased 0.2% to 3.955%.
