Financial stocks push Australian market to 11-day high

IT and real estate stocks surged more than 2 per cent each as financial stocks, which account for almost a third of Australia's share market, rose 1.8 per cent.

The local bourse's best daily performance in six weeks came after the US Federal Reserve confirmed it expected to make two more US interest rate cuts in 2025, despite rising concerns about global growth and tariff-induced inflation.

The Australian dollar is buying 63.41 US cents, down from 63.58 US cents on Wednesday afternoon. 

The Aussie slipped as much as 0.5 per cent after data showed employment fell in February, despite unemployment holding steady at 4.1 per cent.