The Australian share market extended its record-breaking run for a fifth straight session on Friday, posting its second consecutive weekly gain on Friday.
Sentiment was buoyed by the Reserve Bank’s recent interest rate cut and steady July employment figures, reinforcing expectations of further monetary easing.
The ASX 200 climbed 64.8 points or 0.7% to close at 8,938.6. Gains were broad-based, with eight of the 11 industry sectors finishing in positive territory.
For the week, the index posted a 1.5% rise.
Financials led the advance, with Commonwealth Bank up 0.6%, Westpac adding 2.1%, National Australia Bank lifting 0.8%, and ANZ up 1.8%.
Energy stocks also rallied, with Santos, Woodside and Beach Energy all higher, while Ampol surged 7.7% after agreeing to acquire convenience and fuel retailer EG Australia for $1.1 billion.
Materials stocks were in demand, with BHP adding 1.1%, Rio Tinto up 1.4%, and Fortescue Metals Group gaining 1.3%.
Gold miners also added to the momentum, with Newmont up 0.6% and Northern Star Resources climbing 1.8%.
Utilities were also boosted by a 1.5% rise in Origin Energy following its earnings beat on Thursday.
In company news, Baby Bunting rocketed 40.5% after issuing better-than-expected annual profit guidance for the current fiscal year.
The maternity and baby goods retailer also reported record FY25 sales of $521.9 million, up 4.7% year-on-year, driven by a 4.2% increase in comparable store sales.
Cochlear added 1% after reporting a 9% rise in statutory net profit after tax (NPAT) and a 1% increase in underlying NPAT for FY25.
Mirvac shed 0.9% after posting an operating profit after tax of $474 million, in line with guidance but down from last year’s $552 million.
Amcor was the day’s biggest large-cap decliner, plunging 9.7% after its fourth-quarter EBIT missed market expectations due to weaker volumes in North America.
On the bond markets, yields eased, with the 10-year down 0.2% to 4.23% and the 2-year falling 0.8% to 3.305%.
