Index Update: The Australian sharemarket advanced on Thursday, with the S&P/ASX 200 rising 22.20 points, or 0.25%, to close at 8,969.80. The index rebounded after a three-day decline, lifted by gains in major miners as copper prices surged to a 14-month high. Seven of the eleven sectors ended higher, led by Materials, which climbed 1.80% on the day and 3.36% over the past five sessions. Over the last five days, the benchmark index has gained 0.27% and now sits just 0.94% below its 52-week high.

Macro Update: According to multiple media reports, International Monetary Fund Managing Director Kristalina Georgieva said the global economy has shown surprising resilience despite multiple shocks, forecasting only a slight slowdown in growth this year and next. Speaking at the Milken Institute in Washington, D.C., she noted the U.S. economy softened but avoided a feared recession, supported by effective policies, an adaptable private sector, milder import tariffs, and favorable financial conditions.

Top Market Movers: Nickel Industries Limited (ASX:NIC) led the gains on Thursday, rising 8.67% to close at AUD 0.815, followed by Capstone Copper Corp. (ASX:CSC) up 7.59% at AUD 14.74, and Domino’s Pizza Enterprises (ASX:DMP) gaining 7.57% to AUD 14.36. On the downside, Austal Limited (ASX:ASB) fell 9.60% to AUD 7.72, while Megaport (ASX:MP1) and Regis Resources (ASX:RRL) slipped 3.70% and 3.68%, respectively.

Commodity Update: The dollar held firm on Thursday, heading for its best weekly performance in nearly a year, supported by a weakening yen following Japan’s political transition. Gold slipped 0.69% to USD 4,041.45, while silver fell 1.54% to USD 48.20. Copper gained 0.88% to USD 10,779.70. Brent crude declined 0.60% to USD 65.86 as U.S. President Donald Trump announced the first phase of an Israel-Hamas ceasefire, alongside rising U.S. crude inventories.

Our Stance: The Australian sharemarket rebounded on Thursday, with the S&P/ASX 200 rising 0.25% to 8,969.80, led by gains in major miners and the Materials sector amid a surge in copper prices. The rebound reflects resilience in the Materials sector and strength in commodity-linked stocks, particularly amid rising copper prices. Global economic stability, as highlighted by IMF Managing Director Kristalina Georgieva, supports cautious optimism, though uneven performances among top gainers and losers underscore selective opportunities. Currency and commodity movements suggest investors should monitor external factors, including U.S. growth and geopolitical developments. Overall, while the market shows signs of recovery, a measured, sector-focused approach remains prudent, balancing exposure to high-performing miners and industrials against vulnerabilities in technology and discretionary segments.

In its latest session, the S&P/ASX 200 Index rose 22.50 points to close at 8,969.80, supported by a bullish candlestick pattern and strong trading volumes, signalling sustained investor confidence. On the daily chart, the index remains above its 21-period Simple Moving Average (SMA), which continues to act as dynamic support. A key support zone lies near 8,900, and maintaining this level is crucial for preserving the current uptrend and consolidating recent gains. From a weekly perspective, the index also stays above its 21-period SMA, reflecting a constructive technical setup and the potential for continued momentum, provided near-term support holds.