Australian stocks climbed 82 points or 0.9% to 8,806 on Friday morning deals, rebounding from a subdued session the day before amid stronger U.S. equity futures after Wall Street ended mixed overnight after weak U.S. jobs data cooled rate-hike concerns. Meanwhile, an upward revision in Australia’s private sector activity for June boosted sentiment, lifted by renewed growth in services. Gains, however, were capped by worries about continued tightening in cash rates, as signaled by the Reserve Bank’s June meeting minutes and recent remarks from Governor Michele Bullock. Sector strength included consumer durables, healthcare, retail, and process industries. Three of four major banks rose between 0.3% and 1%. Mining giant BHP Group edged up 0.3% while other notable performers were Northern Star Resources (7.0%), Evolution Mining (4.8%), and Greatland Resources (2.6%). For the week, markets are on track to edge higher, up around 0.2% so far, reversing from a modest drop in the prior period.

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