The Australian market ended in positive territory on Thursday, lifted by resource stocks amid volatile trading on higher commodity prices. Weak cues from Wall Street where the indices ended flat with a negative bias in the previous session and profit taking in bank stocks capped the gains as traders remained cautious ahead of key economic data in the US.
The benchmark S&P/ASX200 Index advanced 14.80 points, or 0.31% to close at 4,751, while the All-Ordinaries Index ended at 4,758, representing a gain of 13.80 points, or 0.29%.
On the economic front, the Australian Bureau of Statistics revealed that the country recorded a seasonally adjusted trade deficit of A$1.176 billion in January, narrower by A$998 million compared to A$2.174 billion reported in the previous month. Economists expected a trade deficit of A$1.5 billion for the month. The report further noted that exports were up A$278 million or 1% on month to A$20.15 billion,while imports eased A$719 million or 3.0% on month to A$21.32 billion.
Results of a survey revealed that morale among small businesses in the country eased during the March quarter. The Sensis business index for March showed business confidence eased to 49% in the three months to March, from 52% in the three months to December. Moreover, employment by Australia's small businesses fell sharply during the quarter, reaching the lowest level in the 17-year history of the survey.
Light sweet crude oil futures for April delivery ended at $80.58 a barrel in electronic trading, down $0.29 per barrel from previous close at $80.87 a barrel in New York on Wednesday.
Metals and mining stocks ended in positive territory on higher commodity prices in the international market. BHP Billiton gained 1.46%, Rio Tinto advanced 0.72%, Fortescue Metals added 0.62%, Minara Resources climbed 3.29%, and Mincor Resources rose 2.13%. Oz Minerals, Illuka Resources and Murchison Metals remained unchanged from previous close.
Gold stocks ended in positive territory on higher gold prices in the international market. Lihir Gold gained 1.03% and Newcrest Mining rose 1.67%.
Mixed trading was witnessed among the oil stocks. While Woodside Petroleum added 0.23% and Oil Search advanced 0.57%, Santos edged down 0.07% and Origin Energy declined 1.98%.
Banks also ended mixed. ANZ Bank, which announced that the Reserve Bank of India has granted an in-principle approval for a foreign bank license in India, declined 0.88%. Commonwealth Bank of Australia shed 0.31% and Westpac Banking Corp. edged down 0.19%. However, National Australia Bank bucked the trend and ended in positive territory with a gain of 1.72%.
Airline companies ended higher. Qantas gained 1.49% and Virgin Blue Holdings surged up 4.38%.
In the U.S., stocks gave up their early gains and closed little changed on Wednesday, as the Federal Reserve's Beige Book report raised some cautious sentiment in the markets, offsetting earlier optimism. The major averages closed near the flat line, with only the S&P 500 able to eke out a gain on the day. The Dow fell by 9.22 points, or 0.09%, to end at 10,397 and the Nasdaq edged down by 0.11 points or less than a tenth of a percent to 2,281, while the S&P 500 closed up 0.48 points, or 0.04%, at 1,119.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.