FX.co ★ Australian Shares Near Record Highs

The S&P/ASX 200 surged to approximately 8,890 on Friday, extending its gains from the previous session and hovering near record highs. This upward trend was largely fueled by the strong performance of energy stocks, notably Ampol Limited, which soared by 7.8%, and Origin Energy, which rose by 1.8%. Major financial sector players also experienced gains, with Westpac Banking appreciating by 1.4% in response to a favorable earnings report, aligning with broader banking sector trends. Commonwealth Bank, National Australia Bank, and ANZ Group each witnessed increases ranging from 0.4% to 0.6%. Retailer Baby Bunting experienced a significant surge of 26%, reaching its highest share price in two years, attributed to robust earnings driven by high demand for soft goods and effective pricing strategies. Looking ahead, investors are shifting their focus to consumer inflation expectations, consumer confidence, and upcoming PMI surveys, especially following labor market data that indicated continued strength. For the week, the benchmark index is poised to achieve its second consecutive weekly gain.