FX.co ★ Australian Shares Gain on Wall Street Boost

The S&P/ASX 200 Index experienced a 0.2% rise, exceeding 8,200 on Friday, as it recorded a third consecutive gain on the back of positive cues from Wall Street. This upward movement was driven by news that U.S. President Donald Trump declared a trade agreement with the UK, occurring after comprehensive tariffs were recently imposed by the U.S. Additionally, Trump suggested a potential relaxation of tariffs on China, contingent upon the results of the trade discussions scheduled for this weekend in Switzerland. Investors are now turning their attention to the forthcoming trade data from China, seeking to understand the tariffs' effects on Australia's major export destination.

In corporate developments, Macquarie Group saw a significant jump of 3.7% after revealing strong full-year financial results. Conversely, Transurban Group's shares dipped by 1.7% following their announcement to reduce their workforce by 300 jobs, as part of a cost-reduction strategy projected to save over A$50 million annually. Despite recent gains, the ASX 200 is poised to conclude the week on a lower note.