The Australian market finished the week on a solid note, despite a mixed lead from international shares overnight.
Most sectors finished in positive territory, with the materials sector the key driver of today’s gains.
The major miners strengthened on the back of higher commodity prices; BHP put on 0.6%, Rio Tinto advanced 2.1% and Fortescue soared 4.1%.
A rally in the price of gold helped Regis Resources and Kingsgate, which surged 6.5% and 8.6% respectively.
The big four banks finished the session mixed; NAB lost 0.5%, while ANZ gained 0.4%.
Pharmaceutical company, ResMed, soared 7.5% despite announcing a poor half year result. Investors were instead heartened by the company’s positive guidance for the year ahead.
The ASX 200 added 17 points (+0.6%), settling at 4288. Today’s gains saw the market finish up 1.2% for the week.
