Market Wrap / mining momentum

The local market seesawed during Thursday's trade, with momentum in mining players offset by broader weakness.The S&P/ASX 200 Index finished the session up just 0.1% to 8,773 points.

Energy stocks stood out as the clear winners, powering ahead with a 1.9% gain after crude oil climbed around 3% to a seven-week high. Karoon Energy gained 6.4%, its best day in over three months, following a share buyback plan. Elsewhere, Western Australia–based company Finder Energy soared over 110% following the securing of a deal with TIMOR GAP, Timor Leste's national oil company.Copper players rose following a supply disruption at the world's second-largest copper mine in Indonesia. Capstone Copper rose 10.2% while Sandfire Resources added 7.6%.

But investors took profits in gold players, with Northern Star down 2.4%.In the retail sector, Premier Investments shares rose 0.2% despite reporting a fall in FY25 profit from its continuing operations. 

Macquarie Group dipped 1.3%, as it agreed to pay back more than $320 million to thousands of investors in the collapsed Shield Master Trust via its superannuation wrap platform.

And shares in Elders gained 0.9%, as the ACCC set October 9 as the deadline for a decision on its proposed $475 million acquisition of Delta Ag. 

Looking ahead, the US GDP, jobless claims, and durable goods orders headline the economic data in the United States overnight. Costco and Accenture issue earnings.