FX.co ★ Australian Shares Rise as Banks, Uranium Miners Rally

The S&P/ASX 200 Index advanced by 0.3% on Friday, climbing past the 8,370 mark, as it recouped prior losses with financial and uranium sectors spearheading the recovery. As the week draws to a close, the benchmark index is set to finish slightly up. Investor confidence was buoyed by the Reserve Bank of Australia's second interest rate cut of the year, along with a dovish policy outlook. The central bank underscored challenges to economic growth and easing inflationary pressures, indicating the possibility of more monetary easing if required. Banking stocks were at the forefront of the gains, with Commonwealth Bank up by 0.9%, National Australia Bank by 1.3%, and ANZ Group by 1.1%. Uranium mining companies also experienced significant gains amidst reports that U.S. President Trump is poised to sign executive orders to expedite the growth of the nuclear energy sector. Boss Energy saw a remarkable increase of 12.4%, accompanied by Paladin Energy's rise of 9.0% and Deep Yellow's of 8.9%.