The Australian share market finished the week on a slightly more positive note than expected after Thursday's tumultuous finish.
The benchmark ASX200 rose 60.1 points, or 0.76 per cent, to close at 7921.3 points on Friday. The top performers on Friday were Karoon Energy Ltd and Liontown Resources Ltd, up 5.75 per cent and 5.46 per cent respectively.
The index has fallen 0.63% over the past five days.
Ten of the 11 sectors finished in the green, with mining posting the biggest gain at 1.4.
Iron ore miners FortisQ, BHP and Rio Tinto rose between 1.0% and 2.75%.
Real estate and energy stocks also performed well, with Woodside up 0.3%.
The only industry that posted a deficit was consumer goods.
The broader All Ordinaries index also rose 58.8 points (0.7 x 1.36) to 8,153.10.
The best performing stocks this week were IRESS, up 17.0%, Insignia Financial, up 12.2%, and Polynovo, up 6.6%.
Meanwhile, at the other end of the index, Bellevue Gold was the worst performer of the week, losing 20.9%.
The poor performance comes as no surprise after Bellevue Gold shocked investors on Thursday when it announced it had raised A$150 million through a placement to repay more than half of the company's debt and de-risk the company.
But Darren Stralo, Bellevue's executive vice president and chief executive, said the company would accelerate exploration and growth and free up the project's free cash flow to fund its own expansion plans.
“We are very pleased with the very strong support for the placement from both shareholders and new investors,” Mr Stralow said on Friday.
“Now with the benefit of enhanced financial flexibility, our team will continue to focus on unlocking the potential and value of this specialized mining operation by significantly increasing production and reducing costs, thereby maximizing free cash flow and returns for shareholders.
“We are also very excited about the opportunity to resume exploration at the Bellevue Gold Project after two years of very limited exploration during the commissioning and ramp-up period, and see a number of very promising opportunities to grow the resource.”
The Dow Jones rose 81 points, or 0.2%, while the S&P 500 index fell 0.5%.
The tech-heavy Nasdaq fell again to close at 0.9%, a blow that deepened a day after it posted its biggest daily decline since 2022.
At the time of publication, the Australian dollar was trading at 65.55 cents to the dollar.
