The Australian sharemarket closed at a three-month high on Friday, capping its eighth consecutive day of gains amid mounting expectations of interest rate cuts.
The S&P/ASX 200 Index advanced 46.2 points, or 0.6%, to finish at 8,343.7, with seven out of 11 sectors in positive territory.
For the week, the benchmark added 1.4% and now sits just 2.5% below its 14 February peak.
Overnight, United States producer prices fell by the most in five years, while soft retail sales for April signalled weakening consumer demand.
Rate-sensitive sectors performed strongly. Real estate stocks surged, with Goodman Group up 2.9%, Charter Hall adding 2.4%, and Scentre Group climbing 2.5%.
Healthcare advanced as CSL added 1.4%, ResMed gained 1.6%, and Sonic Healthcare lifted 1.1%.
Materials saw upward momentum as mining giants Rio Tinto, BHP, and Fortescue Metals Group lifted 0.9%, 1.4%, and 1.3%, respectively.
Gold miners also rallied, with Northern Star up 2.7%, Bellevue Gold and Newmont gaining 3.6% apiece.
In corporate news, Dexus fell 1.1% after the Australia Pacific Airports Corporation accused the firm of breaching confidentiality agreements - allegations which, if upheld, could require Dexus to divest its stake in Melbourne Airport.
Shares in Appen soared 18.7% after the company released a revenue forecast between $235 million and $260 million for the full year, as well as positive underlying earnings.
NRW Holdings rose 2.6%, recouping some of Thursday’s losses, despite announcing a $113 million impairment following the transfer of the Whyalla port title to the administrators of the Whyalla steelworks.
On the bond markets, the yield on 10-year Australian government bonds settled at 4.467%, while the 2-year yield was 3.570%.
