Australian shares rose on Thursday after top business lender National Australia Bank lead banks to record-high levels a day after logging a stronger profit, while miners magnified overall gains as commodity prices trended higher.
The S&P/ASX 200 index rose 0.8% by 2333 GMT, inching closer to its all-time high of 9,115.20 points.
The benchmark rose 0.5% on Wednesday.
The financials sub-index was up 1.3% after briefly touching an all-time high, as National Australia Bank extended gains to hit its highest ever level on posting stronger quarterly profits a day ago.
The rest of the “Big Four” lenders followed, gaining between 1.4% and 2.3%. Top lender Commonwealth Bank of Australia hit its highest level since mid-August 2025 earlier in the session.
Meanwhile, the mining sub-index rose 1.4% after copper prices strengthened on dip buying and a recovery in technology stocks.
Shares of BHP, the world’s top copper producer, gained 1.2%, while Anglo-Australian peer Rio Tinto rose 2%, ahead of its full-year results due later in the day. Gold stocks boosted the sub-index as bullion prices surged on geopolitical risks.
Shares of Northern Star Resources and Evolution Mining added 1.1% and 1.5%, respectively.
Whitehaven Coal fell as much as 6.3% to limit overall gains after Australia’s top independent coal miner swung to a surprise first-half loss as weak prices weighed.
Shares of Wesfarmers, Australia’s biggest non-food retailer, fell by their most in over three months after posting a weaker-than-expected start to the second-half as consumers grappled with persistent high living costs.
The discretionary sub-index fell 2.4%.
Shares of Telstra soared 3.2% after the top telecom firm beat half-year profit estimates, while increasing its share buyback programme.
New Zealand’s benchmark S&P/NZX 50 index gained 0.7% to 13,337.09 points, a day after the central bank left its benchmark rate unchanged.
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