Australian Shares Close at Record High

2026-03-02 06:00 By Czyrill Jean Coloma 1 min. read

The S&P/ASX 200 closed flat at 9,201 on Monday, regaining record highs after earlier losses as investors flocked to gold and oil stocks amid geopolitical uncertainty.

Markets reacted to US and Israeli strikes on Iran over the weekend, following Tehran’s refusal to curb its nuclear program.

Tensions escalated after reports suggested the attacks killed Supreme Leader Ayatollah Ali Khamenei, prompting fears of regional retaliation.

Oil stocks Woodside Energy climbed 6.8% and Santos surged 6.7%, while gold producers Newmont Corporation up 5.7%, Northern Star Resources gaining 4.8%, and Evolution Mining adding 6.6%.

Meanwhile, investors digested recently released economic data.

Australia’s Monthly Inflation Gauge, compiled by the Melbourne Institute, fell 0.2% month-on-month in February, reversing a 0.2% rise in January and marking the first decline since August.

Additionally, ANZ-Indeed Australian Job Ads rose 3.2% in January, easing from a revised 5.2% gain in December.



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Australian Shares Close at Record High
The S&P/ASX 200 closed flat at 9,201 on Monday, regaining record highs after earlier losses as investors flocked to gold and oil stocks amid geopolitical uncertainty. Markets reacted to US and Israeli strikes on Iran over the weekend, following Tehran’s refusal to curb its nuclear program. Tensions escalated after reports suggested the attacks killed Supreme Leader Ayatollah Ali Khamenei, prompting fears of regional retaliation. Oil stocks Woodside Energy climbed 6.8% and Santos surged 6.7%, while gold producers Newmont Corporation up 5.7%, Northern Star Resources gaining 4.8%, and Evolution Mining adding 6.6%. Meanwhile, investors digested recently released economic data. Australia’s Monthly Inflation Gauge, compiled by the Melbourne Institute, fell 0.2% month-on-month in February, reversing a 0.2% rise in January and marking the first decline since August. Additionally, ANZ-Indeed Australian Job Ads rose 3.2% in January, easing from a revised 5.2% gain in December.
2026-03-02
Australian Shares Retreat on Geopolitical Tensions
The S&P/ASX 200 fell 0.5% to 9,158 on Monday, retreating from record highs as global risk sentiment deteriorated amid escalating tensions in the Middle East. Geopolitical risks escalated after US and Israeli strikes on Iran over the weekend, following Tehran’s refusal to curb its nuclear program. Iran retaliated after the attacks reportedly killed Supreme Leader Ayatollah Ali Khamenei. Domestically, the manufacturing PMI was revised down to 51.0 in February 2026 from a preliminary reading of 51.5, marking the lowest level in four months and easing from 52.3 in January. Banking stocks led the declines, with Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation, and ANZ Group Holdings falling 2.7%–3.3%. In contrast, Woodside Energy and Santos jumped 5.7% and 6.4%, while gold miners Newmont Corporation, Northern Star Resources, and Evolution Mining rose between 4.8% and 6.4% on higher commodity prices.
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Aussie Stocks Log Best February Since 2019
The S&P/ASX 200 rose 0.3% to close at 9,199 on Friday, stretching its record run to three sessions, as strength in miners outweighed declines in banks and consumer staples. The benchmark index also climbed 3.7% for the month, its strongest February since 2019, after solid corporate results helped investors shrug off a rate hike from the Reserve Bank and firmer-than-expected inflation data. Miners jumped 1.1%, buoyed by a 2% advance in gold producers as firm commodity prices and strong earnings from base and critical minerals companies pushed the sector to four record highs this month. Separately, Block Inc.’s Australian-listed shares surged nearly 28% after the payments firm unveiled plans to slash its workforce as part of an AI-focused overhaul. On the downside, financials eased 0.2%, while consumer staples underperformed, dragged lower by a 7.4% slump in Coles Group after it reported weaker half-year profit amid intensifying competition with Woolworths Group.
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