Miners help ASX rebound
Australia's share market snapped a six-session losing streak, buoyed by strong miners, tech and health care stocks as banks continued to fall.
The S&P/ASX 200 rose 30 points on Thursday, up 0.33%, to 9,083.8, as the broader All Ordinaries advanced by 43.3 points, or 0.47%, to 9,298.5.
It was a modest rebound for the top 200 after falling more than 2% in just over a week, driven by a recent slump in financial stocks prompted by housing market worries.
Retailers post strong results
There were some positive signs for the retail sector, as buy-now, pay-later player Zip Co and Supercheap Auto owner Super Retail clocked double-digit share price gains after posting strong full-year results.
Gold price lifts resources
At a sector level, resources led the market with a 3.5% improvement on surging precious metals prices, after a US government bond market intervention pulled long-ended yields back from multi-decade highs.
Gold hit its highest price in 11 weeks before settling near $US4,493 an ounce, helping boost the local sub-index more than 8%.
Energy stocks gained 0.5% as Brent crude firmed to just below $US92 a barrel, while select coal miners and uranium stocks added extra support.
Health care stocks rebound
Health care stocks continued their recent rebound, up more than 40% from June lows after strong results from CSL, Pro Medicus and Telix Pharmaceuticals this week.
July's surprise uptick in unemployment to 4.5% didn't move the dial for interest rate expectations, with most analysts still expecting one more hike in 2026, most likely in November.
The Australian dollar was buying 71.22 US cents, up from 70.75 US cents on Wednesday at 5pm.
