Lucky for some: ASX on track for seventh green session
Australian shares are on track for a seventh-straight day of gains and less than five per cent from all-time highs, as China considers trade talks with the US.
At noon on Friday, The S&P/ASX200 was up 53.5 points, or 0.66 per cent, to 8199.1, as the broader All Ordinaries gained 51.9 points, or 0.62 per cent, to 8417.6.
Trade talks between the US and China could be in sight, after commerce ministry officials said the US had expressed willingness for negotiations, and that Beijing's door was "open", according to report from Reuters.
"The US has recently sent messages to China through relevant parties, hoping to start talks with China," the ministry said.
"China is currently evaluating this."
The local gains also followed better-than-expected earnings for Meta and Microsoft, but Amazon and Apple, set to post results overnight, were down in after-hours trading.
Local sectors were largely higher, with energy stocks in front with a 2.2 per cent bounce after US president Donald Trump threatened sanctions on buyers of Iranian oil, sending crude prices higher.
Woodside and Santos were both up more than two per cent each.
Financials were pushing the bourse higher, as ANZ led the big four banks with a two per cent gain, and CBA up 0.7 per cent to $168.43, after spiking above $169 for the first time.
Materials were a mixed bag, up 0.4 per cent, with BHP trading flat, Fortescue up 2.2 per cent and Rio Tino up 0.7 per cent after shareholders voted to reject a review into the company's dual listing structure on Thursday.
IT stocks are on track for a seventh-straight session of gains, up 0.5 per cent after the tech-led Nasdaq gained 1.5 per cent on Wall Street overnight.
Healthcare stocks were also performing well, up 1.3 per cent, with Telix Pharmaceutical and Sigma Health both up more than two per cent.
Australian retail spending continues to grow cautiously higher, up 0.3 per cent in March after a 0.2 per cent gain in February, Australian Bureau of Statistics figures show.
The Australian dollar has been range-bound since April 21 and is buying 64.09 US cents, up from 63.96 US cents on Thursday at 5pm.
