ASX Today Live News & Analysis

Australia's share market has clawed back some losses but still snapped a three-week winning streak as energy stocks had their worst week since April.

The S&P/ASX200 rose 40 points on Friday, up 0.47 per cent, to 8,628.2, as the broader All Ordinaries gained 49.6 points, or 0.56 per cent, to 8,925.3.

Over the week, the top-200 fell almost 70 points, or 0.8 per cent.

Three trading days out from Christmas there was still no sign of a Santa rally, IG market analyst Tony Sycamore said.

"We're still finishing with a down week, and that snaps a three week winning streak for the ASX200," he told AAP.

"We do have late late Santa Claus rallies, even as late as post-Boxing Day, but I'm looking for some something which stands out a little bit more than today, and it's just not there at this point of time."

ASX-listed tech stocks and financials led eight of 11 local sectors higher, while raw materials dipped 0.6 per cent on weakness in mining giants BHP and Fortescue.

Gold miners were broadly higher as the precious metal hovered near all-time highs, trading at $US4,320 ($A6,540) an ounce, but it didn't help Northern Star, which fell more than three per cent.

Energy stocks snapped a four-session red streak, but have dropped 5.7 per cent since Monday, its worst week since April when US Liberation Day tariff announcements pummelled equities markets and global growth expectations.

Oil prices are hanging on at seven-month lows, as investors weigh a global supply glut against ongoing conflict in Ukraine and a US naval blockade on Venezuelan oil tankers.

Uranium stocks bounced back on Friday after suffering for most of the week, laser enrichment technology Silex Systems and miner Paladin Energy each up more than nine per cent and taking out two of the top-200's best three performances on Friday.

Australia's heavyweight financials sector returned to form, securing its highest weekly close in a month as three of four big banks traded higher, led by a 2.8 per cent boost to CBA shares to $157.75.

ANZ slipped less than 0.1 per cent, as the Federal Court tacked an extra $10 million onto a record $240 million fine for widespread misconduct and systemic failures.

Investment giant Macquarie Group traded 1.5 per cent higher despite its Macquarie Securities arm copping a $35 million fine for misreporting millions of short sales over several years.

ASX-listed tech stocks outperformed the broader market, the sector lifting 2.2 per cent as WiseTech, Xero, Technology One and Life360 surged.

Data centre player NextDC bucked the trend with a 1.7 per cent drop, tracking with lingering concerns about artificial intelligence returns.

It was a mixed week for consumer-facing sectors with staples fading 1.5 per cent, while discretionaries clawed back 0.8 per cent but remains on par with its value in May after a weak fourth quarter.

Droneshield was the top-200's best performer, up 11.7 per cent on Friday and more than 33 per cent for the week, as dip buyers pounced on a $50 million contract announced on Tuesday.

Elsewhere in defence, Austal sailed 5.7 per cent higher after winning a contract extension to build two additional Evolved Cape-class Patrol Boats for the Australian Border Force.

Healthcare stocks had their first positive day in a week, as 4D Medical soared more than 20 per cent after a major US medical centre adopted its CT scan technology.

The Australian dollar is buying 66.03 US cents, up from 66.03 US cents on Thursday at 5pm.

ON THE ASX:

The S&P/ASX200 rose 40 points, or 0.47 per cent, to 8,628.2

The broader All Ordinaries gained 49.6 points, or 0.56 per cent, to 8,925.3

The NZX 50 added 76.63 points (0.57%) to 13,333.40 while the Nikkei gained 505.71 points (1.02%) at the time of writing, to be closed at 49,507.21