Aussie shares snap losing streak but end week lower
By Adrian Black
The ASX has managed a modest rebound to end the week after local mining stocks rebounded. -AAP Image
Australia's share market has broken a four-session losing streak but ended the week lower as a global rally in artificial intelligence and chip stocks largely skipped the local bourse.
Hold tight - we’re checking permissions before loading more content
The S&P/ASX200 rose 43.5 points on Friday, up 0.5 per cent to 8,806, as the broader All Ordinaries advanced 42.4 points, or 0.47 per cent, to 9,003.7.
The muted advance was outshone by major rallies in other indices in Asia, the US and Europe, as investor excitement about chip and AI firms outweighed worries about renewed conflict in the Persian Gulf.
Local mining stocks rebounded after tumbling more than four per cent during the week, the bounce led by BHP, Rio Tinto and gold stocks on the back of stronger commodity prices.
The Australian dollar is buying 69.49 US cents, up from 69.39 US cents on Thursday as the greenback softened on improving risk sentiment.
