SYDNEY, AAP – Energy and materials stocks were leading the ASX higher while the Australian dollar continued its rise against a weakening greenback.
Energy shares were the top performer on Friday as oil production in the Gulf of Mexico remains mostly shuttered after Hurricane Ida.
Santos rose 2.49 per cent to $6.36 by 1200 AEST.
Materials shares were the next best category. Rio Tinto climbed 2.24 per cent to $111.09. BHP and Fortescue gained less than one per cent.
Most categories were higher and the benchmark S&P/ASX200 index was better by 35.9 points, or 0.47 per cent, to 7521.6.
The All Ordinaries was up 40.5 points, or 0.52 per cent, to 7824.3.
Meanwhile the Aussie dollar has climbed to buy more than 74 US cents after rising since early last week.
RBC chief currency strategist Adam Cole said US Federal Reserve chair Jerome Powell’s comments last month for the Jackson Hole symposium played a role.
Mr Cole said the chair gave traders reason to believe the easing of bond buying would not be soon followed by a rate hike.
Most investor attention in the US remains on the monthly jobs figures due at the end of the week.
This could influence when the central bank starts easing economic support.
The S&P 500 and Nasdaq eked out record finishes overnight, while the Dow also posted a modest gain.
In ASX stock movements, Macquarie shares traded for a record high of $169.70. They were last higher by 0.59 per cent to $169.05.
The big four banks were mixed. NAB was best and rose 0.56 per cent to $28.65.
The biggest losses were in technology shares. Afterpay dropped 2.83 per cent to $130.62.
Software vendor TechnologyOne has agreed to buy UK education software provider Scientia.
TechnologyOne will pay about 12 million pounds ($A22 million) for the first company it has bought overseas.
Shares were up 2.81 per cent to $10.41.
Mining services provider Mineral Resources completed buying a stake in an iron ore project in Western Australia.
The company paid $200 million for a 40 per cent interest in the Red Hill Iron Ore Joint Venture in the Pilbara region.
Shares were up 2.19 per cent to $54.46.
Stocks trading ex-dividend included Bendigo Bank, loan provider Resimac and technology company Bravura Solutions.
The Australian dollar was buying 74.02 US cents at 1200 AEST, higher than 73.79 US cents at Thursday’s close.