The Australian sharemarket edged higher on Friday, reaching a fresh multi-month high and posting a 3.8% monthly gain, after the Trump administration regained legal ground to reinstate tariffs just one day after a federal trade court ruled they had been unlawfully imposed.
The S&P/ASX 200 Index added 24.9 points or 0.3% to 8,434.7. Six of the index’s 11 sectors ended in the red, with Energy and Technology sectors leading declines.
WiseTech lost 1.5%, Xero fell 0.8%, Megaport declined 3.1%, and Block Inc dipped 2.6%.
Energy shares tracked weaker oil prices, with Woodside down 2.1% and Santos falling 0.9%.
Viva Energy also dropped 0.5% despite the Victorian government approving an environmental assessment of its proposed LNG terminal - a move the company described as a critical milestone.
The major banks helped offset losses. Commonwealth Bank gained 0.9%, Westpac added 2.7%, and National Australia Bank rose 1.3%.
Healthcare stocks advanced, with Ramsay Health Care rising 5.9% and Fisher & Paykel Healthcare climbing 5.3%.
A surprise 0.1% fall in April retail sales prompted buying in defensive sectors, with healthcare and consumer staples stocks outperforming.
HealthCo Healthcare & Wellness REIT surged 7.9% after reaching an agreement with tenant Healthscope and its receivers to partially defer rent payments.
On the bond markets, yields moved lower, with the 10-year yield falling 0.4% to 4.285% and the 2-year yield down 0.3% to 3.309%.
