Australian shares ended the week on a positive note, buoyed by local retailers and a turnaround in mining stocks’ fortunes in late trading on Friday.

The S&P/ASX 200 index closed up 0.4 per cent, or 30.2 points, at 8408.9 with nine of the sharemarket’s 11 sectors finishing higher. The Australian dollar was trading at a five-week high of US63.17¢. Shares have added 1.2 per cent over the past five days.

This week, US President Donald Trump reiterated threats to impose tariffs on international trade partners, injecting volatility into equity and currency markets. On Friday, he urged OPEC to “bring down the cost of oil” to drive down inflation and interest rates. In Tokyo, the Bank of Japan raised interest rates to their highest level in 17 years.

Shares of Wesfarmers rose 3.3 per cent to $74.66 after Goldman Sachs upgraded the owner of Bunnings to a “buy”. Harvey Norman added 3.1 per cent to $4.96. Elsewhere, Commonwealth Bank advanced 0.5 per cent to $158.65.

Oil producers tumbled, tracking oil prices that fell on Trump’s comments. Brent crude extended losses from the prior session, falling 0.1 per cent to $US78.25 a barrel.

Woodside fell 1.9 per cent to $24.48 and Beach Energy 1 per cent to $1.50. Trump’s remark that he was reluctant to impose a China tariff somewhat buoyed Australian miners on Friday. BHP rose 0.5 per cent to $39.10 and Fortescue 1 per cent to $18.81. Whitehaven Coal, however, closed 1.1 per cent lower at $6.30.

Premier Investments was the index’s biggest gainer, rising 6.6 per cent to $28.62, after shareholders on Thursday overwhelmingly approved a deal to merge a portfolio of apparel brands with Myer.

Stocks in focus

In corporate news, Monadelphous Group jumped 5.8 per cent to $14.88 after the group forecast interim net profit would exceed consensus estimates.

Kogan.com shares tumbled 15.2 per cent to $5.07; the online retailer posted revenue growth of 9.9 per cent in the first half of the 2025 financial year.

4DMedical jumped 6.2 per cent to 60¢ after the company struck a deal with Queensland-based Qscan Radiology Clinics to supply its products.

Synlait Milk shares rocketed 23.9 per cent to 44¢ after the dairy processor boosted its second-half guidance and said the company would “return to profitability” this year.