Australia Shares Extend Gains

Australian stocks advanced 46 points, or 0.5%, to 9,148 in Tuesday’s morning trade, building gains from the prior session and marking their highest level in more than a week. Strength came from tech, manufacturing, energy minerals, and non-energy minerals, though weakness in healthcare and industrial services capped gains. Traders looked ahead to Fed Chair Warsh’s speech at Jackson Hole later this week, alongside a key U.S. inflation report and Nvidia’s earnings. Locally, investors awaited the Reserve Bank's latest meeting minutes later today. They also anticipated July’s inflation print, after June's reading remained above the central bank's target. In the U.S., equity futures were subdued after the Trump administration unveiled plans to isolate Iran’s economy by threatening secondary sanctions on its ‘enablers. Heavyweight BHP jumped 1.5%, while Woodside Energy (2.1%), Wisetech Global (1.5%), and Computershare (1.0%) also posted solid gains. The four big banks rose modestly.

The ASX 200 rose 44 points, or 0.5%, to end at 9,103 on Monday, rebounding from prior losses as non-energy minerals, manufacturing, consumer services, and logistics led gains. Traders looked past softer U.S. stock futures, turning attention to Fed Chair Warsh’s upcoming Jackson Hole remarks for rate signals amid elevated oil prices and multi-decade highs in global bond yields. Locally, focus shifted to Australia’s July inflation print due Wednesday, after June's readings eased to 3.8% from the prior 4%. Fuel retailer Ampol surged 4.3% to a two-year high as refining margins linked to Middle East supply disruptions boosted earnings nearly five-fold. Miners also advanced, with BHP up 3.0% and Rio Tinto 1.2% on strong copper prices. Higher bullion lifted Northern Star Resources (1.7%) and Evolution Mining (2.5%). In contrast, energy lagged, with Santos down 1.8% and Woodside off 0.9%. The big four banks fell between 0.3% and 0.7%, and Endeavour Group tumbled 4.7% after a sharp profit drop.

Australian shares added 23 points, or 0.3%, to 9,083 in early trading on Monday, reversing losses from the prior session as gains in materials, consumer services and healthcare lifted sentiment. A positive lead from Wall Street Friday also supported risk appetite, with investors looking ahead to Fed Chair Warsh’s remarks at the Jackson Hole symposium later this week amid elevated oil prices and multi-decade highs in global bond yields. However, gains were limited by caution ahead of Australia’s July inflation report, due Wednesday, after headline inflation eased to 3.8% in June from 4.0% but remained above the Reserve Bank of Australia’s 2%–3% target range. Governor Michele Bullock has recently stressed that underlying inflation remains too high and warned that further rate increases cannot be ruled out, amid volatility linked to the Middle East conflict. Among notable gainers were PLS Group (2.2%), Fortescue (2.1%), Aristocrat Leisure (1.7%) and South32 (1.6%).