ASX Rises as Oil Prices Retreat, Wall Street Bounces Back

The Australian sharemarket rose by 0.3% on Friday as oil prices retreated and Wall Street rebounded, according to Proactive financial news.

The S&P/ASX 200 index climbed to 8,758 points, while the Australian dollar strengthened 0.1% to US$71.17 cents.

Banks and miners led the advance, but energy shares came under pressure as crude prices declined from recent highs.

RBA Governor Michele Bullock warned that inflation risks are materialising due to factors such as prolonged Middle East conflict, global artificial-intelligence investment boom, and extreme weather.