Australian Shares Rise 0.98% to 8,978.60 as Energy and Bank Stocks Offset Mining Weakness

Australia's S&P/ASX 200 Index climbed 86.80 points, or 0.98%, to 8,978.60 on Friday, extending the prior session's gains despite a negative Wall Street close. The broader All Ordinaries Index rose 83.00 points, or 0.92%, to 9,095.60. Energy and financial stocks led the advance. Woodside Energy and Origin Energy each gained nearly 2%, while National Australia Bank, Commonwealth Bank and ANZ Banking rose more than 1% apiece. Mining stocks lagged, with Mineral Resources and Rio Tinto each down almost 2%. Coles shares plunged almost 12% after the supermarket operator issued a downbeat first-quarter trading update and profit warning. Reece jumped almost 10% on its first-quarter sales revenue update. Appen tumbled nearly 17%, and Zip slipped almost 5%. On Wall Street, the Nasdaq fell 1.4% to 26,184.72 on Thursday. The Australian dollar traded at $0.703.