The Australian sharemarket snapped its two-day losing streak on Thursday, tracking gains on Wall Street where dip buyers stepped back in after solid company results and signs of a resilient US economy boosted sentiment.

The S&P/ASX 200 closed 26.3 points, or 0.3 per cent, higher at 8828.30, with mining stocks leading the way after a rise in gold prices overnight. The biggest tech stocks rebounded after their losses on Wednesday. The Australian dollar was trading at US65.11¢ at 4.38pm AEDT.

Bucking the positive trend were James Hardie and NAB. NAB shares fell 3.3 per cent after the country’s largest business lender said cash profits edged down by 0.2 per cent in the year to September as it recorded higher charges for bad loans in its business bank and had rising expenses.

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