Australian Stock Market Ends Losing Streak With Financial Gains
The S&P/ASX 200 index rose 0.41 percent on Friday, driven by financial and energy stocks and a major contract for Electro Optic Systems.
The Australian stock market ended a four-session losing streak on Friday, October 9, 2026. The benchmark S&P/ASX 200 index gained 35.30 points, or 0.41 percent, to close at 8,696.20, while the All Ordinaries Index rose 0.34 percent to 8,853.50.
Financial stocks led the recovery, with National Australia Bank, Commonwealth Bank, and Westpac each gaining more than 1 percent, and ANZ rising nearly 1 percent. Energy companies Origin Energy and Santos also contributed to the gains. These increases were partially offset by declines in mining stocks, including BHP Group and Fortescue, alongside mixed performance in the technology sector.
Shares in Electro Optic Systems surged nearly 6 percent after the company announced a $700 million counter-drone contract with a Gulf state member, marking the largest contract in the firm's history. The market recovery occurred despite mixed results on Wall Street and declines across major European markets.
