The Australian sharemarket closed higher on Friday, with the benchmark index posting a modest weekly gain as investors welcomed signs of potential progress in peace negotiations between the United States and Iran.
The S&P/ASX 200 Index rose 35.3 points, or 0.4%, to finish at 8,657.0, with six of the 11 sectors ending the session in positive territory.
For the week, the benchmark gained 0.3%.
The Materials sector led the market higher, supported by gains among the major miners. BHP added 1.1%, Rio Tinto lifted 1.7%, while Fortescue slipped 1%.
Energy stocks also strengthened as oil prices pushed higher after three consecutive sessions of declines. Market sentiment remained sensitive to developments surrounding Iran’s uranium program and control of the Strait of Hormuz.
Woodside Energy gained 0.9%, Santos added 1.4%, and Viva Energy rose 0.4%.
Telecommunications stocks were among the weakest performers, while REA Group and SEEK ranked among the market’s largest decliners, falling 4.1% and 5.9%, respectively.
Tuas finished flat after terminating its proposed A$1.5 billion acquisition of Singapore-based telecommunications company M1.
The stock has plunged 62.1% over the past week after Singapore regulators launched an investigation into its Simba telecommunications brand.
The Financial sector finished slightly higher, with Commonwealth Bank rising 0.9%, NAB adding 0.5%, Westpac lifting 0.7% and ANZ advancing 0.5%.
Among individual stocks, Guzman y Gomez surged 9.6% after announcing an abrupt exit from the U.S. market.
The fast-food chain said it would immediately close its Chicago restaurants after the business failed to meet financial performance targets.
Guzman y Gomez said the withdrawal would result in a one-off cost of between US$30 million (A$42.1 million) and US$40 million, although it confirmed the move would not affect its 2025-26 dividend.
Artificial intelligence data company Appen jumped 9.4% after reaffirming its 2026 revenue guidance of between A$270 million and $300 million at its annual meeting.
On the bond markets, Australian government yields edged lower, with the 10-year yield falling 0.4% to 4.926% and the two-year yield declining 0.3% to 4.597%.
