The Australian sharemarket snapped three sessions of consecutive decline on Friday, as the index narrowly avoided falling into correction territory, supported by gains in mining and utility companies.
The S&P/ASX 200 added 40.6 points, or 0.5%, to close at 7,789.7. Nine of the 11 sectors finished higher, with utilities and materials leading the advance.
The ASX 200 diverged from Wall Street, where major benchmarks posted sharp declines overnight. The S&P 500 fell to 5,521, marking its lowest close since September, as United States markets reacted negatively to Donald Trump’s latest tariff threats.
Utilities lifted 1.8% overall, with Origin Energy up 1.9%, Genesis Energy gaining 2% and AGL Energy adding 3.5%.
Major miners advanced, buoyed by a rebound in iron ore prices, which climbed above $103 per tonne.
Rio Tinto rose 1%, BHP gained 1.1%, and Fortescue advanced 2.7%.
Lithium miner Liontown Resources surged 4.9% after narrowing its half-year losses to December.
Gold stocks also rallied as the precious metal reached fresh record highs. St Barbara jumped 7.7%, Bellevue Gold gained 5.5%, Gold Road Resources rose 1.5%, and Northern Star Resources climbed 2.8%.
On the bond markets, the yield on 10-year and 2-year Australian government bonds were 0.6% and 0.4% higher at 4.423% and 3.762%, respectively.
