Consumer discretionary stocks advanced 1.6% at midday Thursday. Australia's seasonally adjusted unemployment rate came in at 4.1% in April, unchanged from March, which led to expectations of a rate cut by the Reserve Bank of Australia being scaled back.

Embark Early Education (ASX:EVO) said that conditional contracts have been executed for two further centers in Queensland, and the contracts are subject to customary licensing and other regulatory approvals. Settlement is estimated to be in late May for one and early July for the other. Due diligence continues on further acquisitions.

On the flip side, the materials sector fell 1%, as iron ore prices fell.

Northern Star Resources (ASX:NST) said its group mineral resources increased to 70.7 million ounces, up 9.4 million ounces, while its group ore reserves increased to 22.3 million ounces, up 1.4 million ounces, after mining depletion for the year ended March 31.