The Australian sharemarket advanced on Friday, lifted by strength in healthcare, technology, and consumer discretionary stocks, as investors weighed the second day of the United States federal government shutdown.
The benchmark S&P/ASX 200 Index rose 41.5 points or 0.5% to 8,987.4, with eight of 11 sectors finishing in positive territory.
For the week, the index closed 2.3% higher.
The Information Technology sector led gains, with Block adding 5.4%, Appen up 2.3%, Life360 gaining 3.1%, and Xero advancing 1.7%.
Health Care also supported the market, as CSL lifted 0.8%, ResMed jumped 3%, and Fisher & Paykel rose 1.3%.
Consumer Discretionary shares strengthened, underpinned by Eagers Automotive, which surged 15.3% after completing a $452 million equity raising to fund its $1 billion purchase of a 65% stake in CanadaOne Auto, marking its expansion into North America.
Wesfarmers added 0.1%, Tabcorp gained 1.9%, Aristocrat Leisure lifted 1.5%, and Domino’s advanced 1%.
Meanwhile, energy companies lagged after reports that OPEC+ could agree to raise oil production by up to 500,000 barrels per day in November, triple the increase for October
Santos dropped 2.2% Woodside closed flat, and Viva Energy dipped 1.1%.
Gold miners fell as bullion eased from record highs, pressured by a slightly stronger U.S. dollar and profit-taking.
Northern Star dropped 1.7%, Evolution finished 1.5% lower, and Newmont eased 0.4%.
Among other standout movers, DigiCo soared 11.7% after strong demand for its AI infrastructure prompted an earnings guidance upgrade.
Mesoblast jumped 8.7% after its bone marrow transplant therapy Ryoncil won formal recognition from the U.S. Medicare & Medicaid Services.
In contrast, Telstra slipped 0.6% after the Federal Court ordered the company to pay an $18 million penalty for shifting some Belong customers to slower plans without notification.
On the bond markets, yields firmed as the 10-year rate rose 0.3% to 4.321% and the 2-year climbed 0.4% to 3.507%.
