The sharemarket notched its 10th straight session of gains, its longest winning streak since 2015, as the mining sector rebounded and investors bought rate sensitive technology stocks.

Amid a torrent of profit reports, the benchmark S&P/ASX 200 added 0.2 per cent, or 16.5 points, to 8027 on Thursday, its highest close since August 1.

The advance tracked gains on Wall Street, after revisions to US jobs data bolstered the view that the labour market is cooling and the Federal Reserve will cut interest rates in September.

The best-performing sector on the ASX was technology. It jumped 1.9 per cent after WiseTech rose another 7.8 per cent to a record $120.39, extending its gains to 27.6 per cent over two sessions after its guidance for financial 2025 beat the market’s expectations. Elsewhere, software player Life360 rose 1.9 per cent to a record close of $19.11.

“The most obvious thing is that when a company confirms it has high growth with positive outlook statements and a long growth runway the market is more than willing to pay up for it,” said Sean Sequeira, the chief investment officer at Australian Eagle Asset Management. “We’ve seen that with WiseTech, Pro Medicus, and Life360 now.

“Companies not living up to expectations are being punished. Collins Foods and Domino’s are weaker than expected and that’s on cost inflation.”

Among commodities, gold shadowed its record high and fetched $US2506 ($3717) an ounce at the closing bell. Iron ore futures traded in Singapore rose slightly, helping the materials sector add 0.4 per cent.

Stocks in focus

In earnings news, gold explorer Northern Star doubled its underlying full-year net profit to $689 million, as shares rose 1.7 per cent to $15.16. While Whitehaven Coal said it would sell a 30 per cent stake in Blackwater mine to Nippon Steel for $US1.1 billion. The stock jumped 6.3 per cent to $7.65.

Elsewhere, tech player Megaport plunged 19 per cent to $9.52 after its result missed expectations. “We suspect existing customer growth must have slowed,” said UBS analyst Tim Plumbe.

Medibank reported a 60 per cent jump in full-year net profit to $492.5 million, but the shares dropped 2.3 per cent to $3.83 after the private health insurer missed its target to increase the number of permanent residents’ policy numbers in the year to June 30.

Insignia dived 15.7 per cent to $2.47 after the financial services giant paused its dividend and reported an annual loss of $185.3 million.

Bank of Queensland dropped 7.3 per cent to $4.95 as the lender confirmed plans to make about 400 staff redundant as part of a restructure and would take a $25 million to $30 million charge in financial 2024 as part of the move. Chief executive Patrick Allaway also said that the lender’s business was no longer sustainable

In the retail space, Super Retail jumped 6.2 per cent to $17.70 after it reported record sales of $3.9 billion for the year ending June 29. It also declared a special dividend of 50¢ a share.

KFC merchant Collins Foods plunged 12.9 per cent to $7.68 after it warned that its profit margins would fall in financial 2025 due to rising labour, energy, and store costs.

And childcare giant G8 Education grew profits in the first half of 2024, but flagged difficult times ahead for the industry this financial year. The shares still sank 7.5 per cent to $1.30.