The Australian sharemarket closed modestly higher on Thursday, with the Energy sector leading gains, while losses in mining stocks capped the broader advance.
The S&P/ASX 200 added 12.9 points, or 0.2%, to close at a new three-month high of 8,409.8, with seven of 11 sectors closing in the green.
Energy shares climbed as oil prices rebounded, with Santos up 1.5% and Woodside gaining 2.8%. The sector extended gains following the Albanese government's decision to extend the life of the North West Shelf gas project.
Despite a strong rally in U.S. futures - boosted by Nvidia’s post-earnings surge - local investors were more cautious.
Sentiment was also shaped by a U.S. court ruling that President Donald Trump had illegally imposed tariffs under a reciprocal trade law.
Miners weighed on the index, as iron ore giants BHP and Rio Tinto fell 0.7% and 0.8%, respectively.
Gold miners also declined, tracking declines in bullion prices, which has now lost 2.6% over four sessions.
Northern Star Resources fell 0.7%, and Newmont eased 0.6%.
Among individual companies, Champion Iron rose 0.5% despite reporting a 39% drop in net profit for the year ending 31 March.
Elders advanced 1.1%, even as the Australian Competition and Consumer Commission (ACCC) raised concerns that its proposed $475 million takeover of Delta Agribusiness may harm competition in rural supply markets.
Resolute Mining dropped 2.4% amid uncertainty over its permits in Guinea. The company said it was “seeking further information and clarification from the Government" following local media reports.
On the bond markets, yields continued to edge higher. The 10-year bond rose 0.8% to 4.370%, while the 2-year was up 1.2% to 3.398%.
