Australia Shares Jump to 5-Week High

Australian stocks climbed 94 points or 1.1% to 8,917 on Thursday morning, rising for the third straight session and notching their highest level in five weeks. Stronger U.S. equity futures boosted risk appetite despite an overnight weakness on Wall Street after U.S. President Donald Trump threatened to bomb Iranian infrastructure in response to any attacks on ships transiting the Strait of Hormuz. However, gains were capped by vigilance ahead of June domestic labor market data later today after May’s solid jobs growth contrasted with a near four-year high in the jobless rate. Meanwhile, the flash PMI readings for July will also be due on Friday. Gains were broad-based, led by tech, non-energy minerals, financials, and industrial services. The four big banks jumped between 1.1% and 1.4% while heavyweight BHP Group advanced 1.1%. Other top performers were Mineral Resources (2.9%), PLS Group (2.7%), Goodman Group (2.4%), and Brambles Ltd. (1.2%),

ASX200 increased to 8873.00 Index Points, the highest since June 2026. Over the past 4 weeks, Australia Stock Market Index (AU200) gained 0.7%, and in the last 12 months, it increased 1.84%.

The ASX 200 rose 30 points, or 0.3%, to close at 8,823, lifted by gains in miners, energy names and consumer stocks. Traders sought to reverse recent weakness, as sentiment steadied despite weaker U.S. stock futures amid heightened Middle East tensions, with President Donald Trump downplaying prospects for near-term talks as U.S. forces marked an 11th night of strikes on Iran Tuesday. Locally, focus turned to Australia's labor data and July flash PMIs, respectively due on Thursday and Friday. Miners advanced 2.5% on firmer copper, supported by strong Chinese demand and falling inventories. BHP rose 2.3%, and Rio Tinto gained 2.5%. Meanwhile, energy stocks climbed 1.7%, led by Woodside (1.3%) and Santos (1.0%). Also, Evolution Mining surged 4.3%, and Northern Star added 3.5%. In contrast, Lynas Rare Earths slid 3.6% to a five-month low after flagging cost overruns at its Malaysian expansion project and posting weaker-than-expected quarterly revenue.