The Australian sharemarket closed higher on Friday, wrapping up the week with a 1.2% gain.
The S&P/ASX 200 index rose 30.2 points, or 0.4%, to finish at 8,408.9, with gains led by consumer discretionary stocks as risk-on sentiment lifted the market.
Retailers outperformed, with Wesfarmers surging 3.6%, Tabcorp gaining 3.1%, and Domino’s Pizza adding 2.2%. Harvey Norman and Premier Investments also advanced, climbing 3.1% and 5.3%, respectively.
Real estate companies lifted 0.5% overall, with Charter Hall and Scentre Group adding 0.6% apiece, while Mirvac Group lifted 0.5%.
The positive sentiment followed comments from U.S. President Donald Trump at the World Economic Forum. Trump reiterated his push for lower interest rates and tariffs on trade partners, although he stopped short of announcing a timeline for tariffs on China.
He also called on OPEC to reduce oil prices, which he argued would help curb inflation and interest rates.
Oil producers struggled, tracking declines in crude prices overnight. Woodside Energy fell 1.9%, Santos slipped 0.1%, and Beach Energy dropped 1%.
Among individual companies, online retailer Kogan.com plunged 15.2% despite reporting a 9.9% revenue increase for the first half of the 2025 financial year.
Meanwhile, Synlait Milk shares soared 22.2% after the dairy processor issued an optimistic second-half outlook, forecasting a return to profitability this year.
On the bond markets, Australian yields fell around 0.5% across the curve, with 10-year and 2-year rates at 4.483% and 3.919%, respectively.
The ASX will remain closed on Monday for the Australia Day public holiday.
