FX.co ★ Australian Shares End Two-Day Decline

The S&P/ASX 200 experienced a 0.6% uptick, reaching approximately 8,850 during early trading on Thursday. This upturn halted a two-day downturn, driven largely by a resurgence in commodity stocks and widespread sector gains. Investors took advantage of the decline to purchase undervalued stocks, buoyed by rising commodity prices that boosted mining companies. This recovery followed declines attributed to higher inflation and the Reserve Bank of Australia's cautious approach regarding interest rate cuts. Prominent mining firms such as BHP, Rio Tinto, and Fortescue saw increases of over 1%, while gold stock valuations climbed by more than 2% alongside rising bullion prices. The technology sector also gained traction, increasing by 0.9%, encouraged by positive outcomes on Wall Street. In the financial domain, National Australia Bank (NAB) dropped by 1.2% after not meeting profit expectations, and Westpac saw a 1.3% decrease. Nevertheless, Commonwealth Bank of Australia (CBA), the leading bank, recorded a 1.1% rise, which contributed to a 0.2% increase in the general financial index, as consistent interest rates continue to enhance yield attractiveness. Additionally, market sentiment improved following the release of new trade balance data, showing the surplus expanded to AUD 3.94 billion in September, significantly outperforming predictions.