Published May 4, 2026 Updated about 2 hours ago By Reuters SYDNEY: Australian shares rose for the first time this week on Friday, with miners leading a broad-based rebound, as an overnight pullback in oil prices encouraged investors to cautiously rebuild positions. The S&P/ASX 200 index closed 0.7 percent higher at 8,729.80, marking its best session since April 8, but still lost 1.4 percent over the week after eight consecutive sessions in the red. Oil prices eased overnight from a four-year peak on Thursday, while strong earnings from mega-cap technology companies lifted Wall Street. Some buying interest in the ASX200 was expected after consecutive sessions of losses, William Taylor, COO and portfolio manager at etfshares, said, adding that the solid US corporate results buoyed global risk appetite. However, Taylor cautioned against treating the benchmark’s current level as a firm floor, saying “today’s bounce looks more like a relief rally than a clear change in market direction”. “The rally still needs to be tested, particularly with oil prices sensitive to US-Iran tensions, inflation risks elevated, and the RBA decision still ahead.”…