ASX 200 Jumps 1.2% as Miners and Gold Stocks Lead Friday Rebound
The ASX 200 climbed 1.24% on Friday as miners and gold stocks lifted investor sentiment after Wall Street hit fresh record highs overnight. BHP, Northern Star Resources, Evolution Mining and Newmont led gains as the resources sector rose 2.3%. Property, infrastructure and major bank stocks also moved higher, while energy companies including Woodside Energy and Santos declined as oil prices cooled following recent geopolitical volatility.
The ASX 200 followed record highs on Wall Street and easing geopolitical pressure overnight with a solid bid higher as miners, gold stocks and falling oil helped investors back in the market on Friday.
Key Highlights
- ASX 200 today rose 1.24%
- S&P/ASX 200 Resources Index +2.3%
- BHP RIO ASX stronger in Friday trading
- Market was lifted by gold stocks EVN NEM NST are back
- Woodside Santos oil selloff
ASX 200 Surging on Eased Tensions, Rebound On Wall Street
The S&P/ASX 200 Index (ASX: XJO), provided a much stronger end to its week on Friday. As of this writing, the benchmark index gained 1.24% to 8,699.3 points. Thursday saw a 1.43% drop in sentiment as stronger oil prices and renewed US-Iran tensions constricted sentiment.
The ASX 200 on 29 May 2026, lifted as US stocks hit fresh record highs overnight and oil prices backtracked. Crude prices were headed for a weekly fall as traders balanced the prospect of lower geopolitical risks, with reports showing a fresh supply. Local sentiment returning to equities also gleaned some help from the US Iran ceasefire ASX reaction.
Gold stocks and miners lead the rally on Friday
The most significant buying was seen in the resources sector, with S&P/ASX 200 Resources Index (ASX: XJR) rising 2.3%. Shares in BHP Group Ltd (ASX: BHP) were among the bigger movers, climbing 1.9% to $62.45. BHP RIO ASX higher, continued to be a key theme through Friday trade.
The gold stocks however, as is often the case, helped to rouse the market and lifted EVN NEM NST out of their stupor. Northern Star Resources Ltd (ASX: NST) 5.7% ($19.91), Evolution Mining Ltd (ASX: EVN) 5.2% ($12.26), Newmont Corp (ASX: NEM) 3.8% to $155.16, Goodman Group (ASX: GMG) added 1.2% to $31.13, while Transurban Group (ASX: TCL) gained 1.3% to $14.54
While energy shares stay hit, banks step it up
The major banks in Australia were also up during the session. Commonwealth Bank of Australia lifted 0.5%, Westpac Bank Corporation gained 0.5%, National Australia Bank Ltd was 0.3% and ANZ Group also pushed higher by 0.9%. During Friday trade, attention also focused on major company announcements and sector momentum with 4DX DroneShield JDO ASX movers watching investor buyers.
FAQs
- Why is the ASX 200 up today?
Wall Street was close to record highs and prospects of low risk from military conflict reassured investors.
- Which sector performed best?
The resources sector led the rise with the S&P/ASX 200 Resources Index up 2.3%.
- Which stocks led the rebound?
BHP, Northern Star Resources and also Evolution Mining as well as Newmont the largest gainers.
- Why were energy stocks weaker?
Oil prices remained a weak feature after recent volatility with energy shares still under pressure.
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