Market Wrap / weak week

The local sharemarket shrugged off renewed Middle East tensions to finish Friday's trade on a positive note. On the back of steadying commodity prices, the S&P/ASX 200 gained 0.5% to close at 8,806 points, however lost 0.4% over the course of the week. Materials led the market higher, with heavyweights BHP and Rio Tinto rising 2.5% and 3.8% respectively. The gains helped retrace earlier losses, although both stocks still finished the week lower. Elsewhere in the sector, Australia and India reached a deal to export Australian uranium to India for use in the nuclear energy industry. Deep Yellow surged off the news, climbing 7.4%. In company news, Bravura Solutions climbed 15% following an upgrade to its FY26 guidance. Revenue is expected to fall within the 280 to 285 million dollar range. While WiseTech Global dipped despite reassuring investors that global logistics giant DSV remains an active customer. Tonight it’s quiet on the data front as markets continue to monitor developments in the Middle East conflict.