Australian shares rose 36 points, or 0.4%, to 8,707 in early Thursday trade, extending gains into a third straight session after a strong lead from Wall Street overnight. Sentiment was supported by hopes of de‑escalation in the Middle East conflict, with investors awaiting an address from U.S. President Donald Trump later today. Now in its fifth week, the war has intensified pressure on Washington to curb tensions amid a sharp rise in gasoline prices.
The local market hovered near two‑week highs and remained on track for a second consecutive weekly advance, up about 2% so far. Further gains were capped by caution ahead of February trade data due later in the day.
Sector performance was mixed: consumer stocks, process industries, non‑energy minerals, and financials advanced, while energy minerals and technology services underperformed. Among early movers, Greatland Resources climbed 5.1%, Qantas Airways gained 2.0%, Bluescope Steel added 1.0%, and Perseus Mining rose 2.6%. The market will be closed tomorrow for the Good Friday holiday.
