The Australian sharemarket ended an eight-session losing streak on Friday, amid improving risk sentiment as investors monitored overnight gains in the United States amid solid quarterly earnings results.
The S&P/ASX 200 Index rose 64.0 points, or 0.7%, to close at 8,729.8, with nine of the 11 sectors finishing higher.
Despite the rebound, the benchmark index recorded a weekly decline of 0.7%.
Gains were led by the Materials sector, with heavyweight miners BHP, Rio Tinto, and Fortescue Metals Group advancing 2.3%, 2.7%, and 1.8%, respectively.
Gold miners also posted strong gains, with Northern Star Resources up 0.8%, Evolution Mining adding 2.1%, and Newmont Corporation moving 2.2% higher, after bullion prices lifted 1.7% from monthly lows overnight.
The Industrials sector contributed to the broader advance, with Transurban up 0.4%, Brambles adding 1.3%, Computershare up 1.8%, and SGH Limited finishing 3.3% higher.
Qantas Airways rose 0.8% after announcing it would extend flight cuts into the 2026–27 period, while continuing to redeploy aircraft towards European routes as higher fuel costs linked to the Middle East conflict reshape its network strategy.
Consumer staples stocks also advanced, with GrainCorp up 2.1%, Endeavour Group adding 2.1% and a2 Milk gaining 2.7%.
Coles Group climbed 3.7% after delivering an in-line result in its grocery division, although weaker performance in liquor weighed on overall sentiment. Chief executive Leah Weckert said there had been an increase in suppliers seeking price rises in recent weeks.
The Energy sector delivered a mixed performance. Woodside Energy fell 1.3%, Santos edged 0.3% higher, and Ampol added 1.9%.
Financial stocks were mostly lower. Commonwealth Bank slipped 0.4%, while Westpac and National Australia Bank each ticked 0.1% lower. ANZ declined 2.8% despite reporting a first-half interim profit of $3.78 billion, up 6% from a year earlier.
In corporate developments, Sequoia Financial Group dropped 2.4% after terminating its agreement to sell InterPrac Financial Planning to Conquest Investment Partners for $50,000, citing the buyer’s failure to meet completion conditions.
ResMed finished 0.9% higher, posting a modest earnings beat for the March quarter, while also announcing the resignation of Chief Financial Officer Brett Sandercock after two decades in the role.
On the bond markets, Australian government yields moved higher, with the 10-year yield rising 0.2% to 5.026% and the 2-year yield also gaining 0.2% to 4.733%.
