28.08.202507:15:42UTC+00Australian Shares Finish Higher

The S&P/ASX 200 edged up by 0.2% to close at 8,980 on Thursday, continuing its growth trend from the previous month. This uptick was primarily driven by the robust performance of bank stocks, which helped balance out the underperformance in the commodity sector. The financial segment experienced a 1.1% rise, buoyed by NAB's 2.4% increase following the appointment of Inder Singh as the new group chief financial officer. Meanwhile, shares of Westpac, ANZ, and CBA saw increases ranging from 1.3% to 2.1%. Investors also shifted focus toward defensive stocks, resulting in gains for consumer discretionary and real estate stocks, which rose by 0.8% and 1%, respectively. Conversely, energy stocks declined by 2.4% due to falling oil prices and reduced US fuel demand forecasts. Similarly, mining and gold shares declined by 0.7% and 0.5%, respectively, as traders took profits from recent improvements in iron ore and gold prices. The market also absorbed a slew of earnings reports as the reporting season neared its end. South32 plummeted by 7.2% after posting disappointing profits, while Qantas surged by 9.1% to reach a record high, fueled by strong financial results. In the healthcare sector, stocks dropped by 1.7%; Ramsay's shares fell by 10.5% due to weaker profit figures, and Telix plunged by 18.8% following a setback with a drug application.