FX.co ★ Australia Stocks Rise for 3rd Session, Eyes on Key Data

Australian equities edged 20 points, or 0.2%, higher to 8,999 in Thursday morning trade, extending gains for a third consecutive session. The advance followed record closes on Wall Street for both the S&P 500 and the Nasdaq, driven by upbeat earnings results and optimism over US–Iran negotiations.

Locally, investors were awaiting key data releases later in the day, including April inflation expectations and March labor market figures. Attention also turned to upcoming Q1 GDP and March activity data from China, Australia’s largest trading partner, covering industrial production, retail sales, and unemployment.

Upside was limited by recent comments from Treasurer Jim Chalmers, who said Australians were “paying a hefty price for events on the other side of the world,” in reference to the conflict in the Middle East. Sector-wise, commercial services, healthcare, and consumer durables led the gains, while weakness in process industries and logistics tempered overall momentum.

Among early movers, Pro Medicus climbed 7.5%, Technology One rose 5.8%, Xero Ltd gained 6.9%, and REA Group advanced 4.6%.