The Australian sharemarket rose on Thursday, lifted by strength in health care companies and gold miners, with the latter supported by bullion’s march to record highs amid United States government shutdown concerns.
The benchmark S&P/ASX 200 Index climbed 100.2 points, or 1.1%, to close at 8,945.9, with eight of the 11 sectors finishing higher.
Health care stocks tracked gains on Wall Street after the Trump administration struck a deal with Pfizer to lower prescription drug costs.
CSL added 3.7%, Sonic Healthcare lifted 1.4% and Pro Medicus closed 0.8% higher.
The Materials sector also rallied as gold extended its record-breaking run, touching US$3,895.31 an ounce on Wednesday in its fifth straight day of gains.
The surge boosted miners, with Northern Star up 3.9%, Newmont adding 1.7% and Evolution Mining lifitng 3.7%.
Mining giants BHP and Rio Tinto lifted 1.1% and 1.2%, respectively, while Fortescue Metals advanced 1.3%.
Smaller players were in focus, with Tambourah Metals soaring 44% after Tribeca Investment Partners disclosed a substantial stake in the explorer.
Metallium closed 5.3% higher after announcing its U.S. arm, Flash Metals, had signed a recycling agreement with Glencore.
Property listings giant REA Group, backed by the Murdoch family, slipped 1.9% after it acquired a controlling stake in Canadian property imaging firm Planitar.
The move comes as rival Domain’s new U.S. owner, CoStar Group, expands into the Australian market. News Corp, REA’s major shareholder, tumbled 5.6%.
ARN Media also fell 2% after announcing the resignation of chief executive Ciaran Davis, with chief operating officer Michael Stephenson stepping up as his replacement.
On the bond markets, 10-year yields were steady at 4.324%, while 2-year yields edged down 0.9% to 3.497%.
