FX.co ★ Australian Shares End at New Record Peak

The S&P/ASX 200 made history by surpassing the crucial 8,900 mark, closing at a new record high of 8,939 on Friday. This milestone was largely driven by strong performances in banking stocks. Westpac surged by 2.1%, achieving its highest valuation since April 2015, bolstered by positive earnings and sector-wide momentum. ANZ also rose by 1.8%, marking its highest level since June 2015, following a third-quarter report that highlighted growth in both deposits and loans. NAB and CBA contributed to the sector’s strength with gains of 0.8% and 0.6%, respectively. In the retail sector, Baby Bunting experienced a remarkable 40.5% leap to its highest point since February 2023, thanks to strong consumer demand and effective pricing strategies reflected in their robust earnings report. Investors are now turning their attention to significant economic data releases scheduled for next week, including consumer inflation expectations, consumer confidence metrics, and a series of PMI surveys. The benchmark index concluded the week with its second consecutive weekly gain.