ASX Inches Higher as Energy and Miners Lead, But Gold Stocks Crumble

Key Highlights:

• ASX 200 rises 0.14% to 8,242.6; gains led by energy and materials
• Gold stocks slump 3.26% despite a rise in spot prices
• Five of 11 sectors decline; volatility index remains low at 13.1
   

The Australian share market posted modest gains on Friday, buoyed by a strong performance from energy and materials stocks, even as gold miners and healthcare dragged on the broader index.

The S&P/ASX 200 climbed 0.14% to 8,242.6, while the All Ordinaries rose 0.13% to 8,473.5, extending its weekly winning streak. The ASX 200 Resources Index gained 1.03%, reflecting renewed strength in base metals and energy names. Brent crude rose 0.49% to $63.91/bbl, helping lift companies like Beach Energy (+4.73%) and Karoon Energy (+4.21%).

Mineral Resources (+6.84%) and Liontown Resources (+6.30%) were among the session’s top performers, supported by a rebound in lithium and copper sentiment. In contrast, gold stocks took a beating, with the ASX All Ordinaries Gold Index tumbling 3.26%, despite gold prices ticking higher to $3,329.10/oz. Investors appeared to rotate out of safe-haven assets amid easing risk aversion, dragging stocks like Ramelius Resources (-6.10%) and St Barbara (-6.25%) lower.

Sector-wise, six of the eleven ASX sectors finished in positive territory, led by energy (+2.48%), materials (+0.71%), and real estate (+0.46%). Technology also gained 0.42%, with Novonix and Block Inc helping lift the sector. However, healthcare (-1.19%), utilities (-0.87%), and financials (-0.32%) capped broader market upside.

Small-cap stocks underperformed again, with the ASX Small Ordinaries down 0.43%, reflecting cautious sentiment in speculative names. Syrah Resources (+11.11%) topped the gainers’ list, while Botanix Pharmaceuticals (-11.83%) led the decliners following sharp investor selloffs.

Global cues were mixed, with Wall Street flat, Nikkei rallying 1.56%, and Shanghai slipping 0.30%. Locally, the S&P/ASX 200 VIX Index held steady at 13.1, suggesting continued investor confidence and low expected volatility heading into the next trading week.