Australia's share market has ended the week at its highest level since October, supported by resurgent banks as a record-breaking run for materials stocks lost steam.
The S&P/ASX200 rose 42.2 points on Friday, up 0.48 per cent, to 8,903.9, as the broader All Ordinaries gained 42.5 points, or 0.46 per cent, to 9,226.7.
The top-200 had its best week since November, up 2.1 per cent despite a multi-record-breaking run in raw materials stocks fading in the final session, with the heavyweight financials sector keeping the momentum going with a one per cent boost.
The uptick for local banks came after US investment giants Goldman Sachs and Morgan Stanley hit record highs overnight following earnings reports that outshone expectations.
"Good financial conditions and the fact the US banks have done well is playing out to local investors looking and thinking, 'well, hang on, we're still seven per cent off our highs in the financial sector here and by and large, there's still some value to be had'," IG market analyst Tony Sycamore told AAP.
Westpac led its big four competitors higher with a 1.8 per cent gain to $39.19, while Commonwealth Bank shares traded 0.5 per cent higher to $154.30, unable to break free from a seven-day trading range.
"By and large, it's been a really solid week, and just a little bit of changing of the guard at the end of this week, after a particularly good run by the big mining stocks," Mr Sycamore said.
The raw materials sector eased 0.2 per cent on Friday, running into profit-taking after resetting its record three times during the week, ultimately securing 3.8 per cent of gains.
BHP was heavy, down 0.8 per cent in the final session to $48.99, as iron ore prices eased to $US107.68 a tonne, but Rio Tinto and Fortescue edged higher as they played catch-up with their bigger rival.
Gold producers were mostly higher, as the precious metal hovered about US4,600 ($A6,860) an ounce, less than one per cent from record highs after geopolitical uncertainty drove safe-haven buying during the week.
Catalyst Metals was the top-200's best performer on Friday, rocketing more than 14 per cent higher to $9 after Bell Potter boosted its price target for the gold miner to $13.50 following a solid quarterly update.
Energy stocks underperformed, down 0.7 per cent after oil prices rolled over from recent highs as US President Donald Trump played down the likelihood of US intervention in Iran after weeks of protests and a bloody crackdown by the Islamic Republic.
Woodside, Santos and Ampol all slipped lower while most coal producers and uranium stocks caught a bid.
Real estate stocks jumped 1.1 per cent, with no clear macroeconomic catalyst, while consumer staples jumped a similar amount to end the week roughly flat.
ASX-listed tech companies rebounded after a rough week, tracking with Wall Street's tech-heavy Nasdaq index, which lifted overnight on solid results from Taiwan Semiconductor Manufacturing Company (TSMC), which temporarily eased recent jitters about AI investment.
In company news, Capstone Corp shares bounced more than seven per cent after it posted record copper production in 2025, despite the base metal rolling over from record highs in the two recent sessions.
Shares in building materials producer James Hardie rallied more than two per cent after it announced plans to close three manufacturing plants in the US.
The Australian dollar is buying 67.02 US cents, up from 66.77 US cents on Thursday at 5pm.
ON THE ASX:
* The S&P/ASX200 rose 42.2 points, or 0.48 per cent, to 8,903.9
* The broader All Ordinaries rose by 42.5 points, or 0.46 per cent, to 9,226.7
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 67.02 US cents, from 66.76 US cents at 5pm AEDT on Thursday
* 106.15 Japanese yen, from 105.79 Japanese yen
* 57.74 euro cents, from 57.38 euro cents
* 50.08 British pence, from 49.73 British pence
* 116.45 NZ cents, from 116.42 NZ cents
