Australian shares advanced on Friday as investors digested the fallout from renewed clashes in the Middle East.
The S&P/ASX 200 Index rose by 0.5%, or 43.5 points, to close at 8,806.
Overnight on Wall Street, the Nasdaq index closed sharply up at 1.3%, while the S&P 500 rose 0.8%.
Brent crude oil futures were trading around $76 per barrel as the US and Iran traded strikes in renewed hostilities. Gold was trading around $4,113 per ounce, breaking a three-day losing streak.
On the domestic front, A rapid acceleration of national rents in Australia is driving rental affordability limitations amid a severe supply deficit, Cotality said. While rental growth moderated slightly to a 1.6% increase in the June quarter, the annual pace of growth accelerated to 5.9% from 5.7% in the first three months of the year, bringing the median national dwelling rent to AU$705 per week.
Australian utilities and agriculture are among the most exposed sectors if the El Niño climate phenomenon emerges, while thermal coal producers could be one of the few clear beneficiaries, Fitch Ratings said.
In company news, Bravura Solutions (ASX:BVS) now expects fiscal 2026 cash earnings before interest, taxes, depreciation, and amortization (EBITDA) of about AU$77 million, up from a previous guidance range of AU$69 million to AU$73 million, due to strong demand for project services across its business.
NEXTDC (ASX:NXT) entered into binding documentation for new senior debt facilities of AU$2.3 billion, an increase of AU$500 million on the earlier AU$1.8 billion of commitments.
Lastly, Sandfire Resources (ASX:SFR) issued an updated pre-feasibility study (PFS) for its Black Butte copper project in Montana, with Black Butte's total ore reserves increasing by 49% to 14.3 million tonnes grading 2.6% copper, containing 370,000 tonnes of copper, extending the planned mine life by about 50% to 12 years.
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