Market Wrap / risk reawakening

The S&P/ASX 200 failed to climb as high as futures expected, but still gained 0.4% to 8,940.30 points this Friday. 

Global equity markets turned positive, as oil prices steadied amid reports of Iran seeking a negotiation to end the war.

Locally, tech shares snapped a four-day slide. The IT sector rose 4.8%. 

Commodities were in focus, with iron ore passing the US$100 mark. Rio Tinto was higher, however BHP fell 1% as it traded ex-dividend alongside names like Woolworths, Telstra and Woodside.

The oil producer shed 1% as oil prices stabilised. The energy & mining sectors also digested the news of China setting its 2026 economic growth target at 4.5%-5%, slightly lower than the 5% pace achieved last year.

And investors took profit in gold. Northern Star, Newmont and Resolute Mining were in the red. The latter flagged a production boom in 2025. 

In other corporate news, The Lottery Corporation is revamping its business, establishing dedicated lotteries, digital, and keno divisions each led by a chief operating officer.

Overnight earnings include retail giants like Alibaba and JD.com, while gold miners Genesis Minerals and Capricorn Metals release updates tomorrow.