03.07.202606:41:18UTC+00ASX 200 Climbs to One-Week High, Up 0.9% Weekly

The ASX 200 jumped 120 points, or 1.4%, to close at 8,844 on Friday, rebounding from a subdued previous session to reach its highest level in more than a week. Risk appetite improved as stronger U.S. stock futures offset Wall Street’s mixed performance ahead of the Independence Day holiday. Investors largely set aside concerns over further policy tightening by the Reserve Bank, instead drawing support from easing tensions in the Middle East and the reopening of the Strait of Hormuz, as well as an upward revision to June private-sector activity data in Australia.

Gains were broad-based, led by consumer durables, healthcare, non-energy minerals, and process industries. Gold miners surged 7.9% after bullion prices advanced on softer U.S. payrolls data, with Northern Star climbing 10.6% and Evolution Mining rising 8.6%. Among the heavyweights, BHP added 1.6% and Computershare gained 3.0%, while the big four banks rose between 0.4% and 2.4%. By contrast, Suncorp dropped 4.1% after cutting its growth outlook on weaker demand. For the week, the benchmark index advanced 0.9%, reversing the prior week’s losses.