The ASX 200 closed 0.1% higher at 8,953 points as gains in retail and banking stocks offset a broader sell-off in the energy and mining sectors.
Key Points
- The ASX 200 recovered from an early 0.5% decline to finish the session at 8,953 points.
- NAB shares fell 3.6% after the bank announced increased provisions for bad debts.
- The Fair Work Commission issued a historic order requiring companies to review fuel costs for trucking contractors twice monthly.
- Brent crude oil futures rose 5.4% to $US95.22 per barrel amid escalating tensions in the Strait of Hormuz.
- Retailers performed strongly, with consumer discretionary stocks like Lovisa and Tabcorp recording gains of 4.5% and 6.5% respectively.