ASX 200 nudges higher as energy and materials stocks lift the market

The S&P/ASX 200 closed up 12.7 points, a 0.1 % rise, to finish at 8,777.2. The broader All Ordinaries climbed 9.8 points, or 0.1 %, to 9,067.4, with four of the 11 local sectors posting gains. Raw materials and energy led the rally, while utilities and consumer discretionary added modest moves.

The Australian dollar traded at US 65.95 ¢, easing from US 66.16 ¢ at 5 pm Wednesday and roughly 1.7 % below last week’s 11‑month peak.

Energy stocks were the standout performers. The sector gained 1.9 %, with Woodside up 2.5 %, Santos 2.1 % and Whitehaven Coal 1.2 %. The rally followed a surge in oil prices to a seven‑week high, driven by a surprise drop in U.S. crude inventories and heightened Ukrainian drone attacks on Russian energy infrastructure.

Materials also posted gains, rising 1.6 %. Mining giants BHP and Rio Tinto each climbed 3.9 % after copper prices moved higher.

Premier Investments shares edged 0.2 % higher to $20.34, after the group reported a 31.1 % jump in profits to $338.2 million. The lift was partly due to the sale of apparel brands (Jay Jays, Just Jeans, Dotti, Portmans and Jacqui E) to Myer. Premier’s sales grew 0.9 % to $812.2 million for the 2025 financial year, with Peter Alexander’s sales up 7.7 % offset by a 10.7 % decline at Smiggle.

Nine Entertainment shares rose 0.4 % following the resignation of chair Catherine West, who stepped down less than 18 months after taking the role. Peter Tonagh, a former ABC deputy chair, will replace her.

The communications sector slipped 0.3 %, led by a 0.6 % drop in Telstra, while REA Group added 0.1 %. Banks were mixed, with the financial sector falling 0.2 %. Commonwealth Bank fell 0.5 %, Westpac gained 0.9 %, ANZ moved 0.3 % higher and NAB added 0.3 % after early losses. Macquarie Group slid 1.2 % after agreeing to compensate victims of the Shield Master Fund collapse.

Consumer staples, healthcare and real estate stocks were the weakest performers.

Overall, the market finished marginally higher after a choppy session. The rally in miners helped lift the bourse, even as U.S. stock indices drifted lower and a strong Wall Street rally paused. The day followed the market’s worst session since early September, after cautious comments from the Federal Reserve and a slowdown in U.S. market enthusiasm.