FX.co ★ Australia Shares Rise on Commodity Strength

The S&P/ASX 200 Index advanced by 0.2% to approximately 8,790 on Monday, recovering some of the declines experienced last week. This recovery was driven primarily by gains in commodity-linked stocks, thanks to stronger underlying prices. Energy and mining companies led the charge, with Woodside Energy increasing by 1.1%, Lynas Rare Earths by 4.2%, Mineral Resources by 3.9%, and Northern Star Resources by 1.2%. In addition, technology and AI-related companies provided further support to the market, with notable gains recorded by Droneshield (8.2%), Zip Co (4.8%), and Wisetech Global (1.6%). The financial sector witnessed gains as well, particularly with ANZ Group rising over 1% despite reporting a 14% decrease in annual cash earnings. Concurrently, Reserve Bank of Australia Deputy Governor Andrew Hauser highlighted that monetary policy is encountering an atypical challenge, underscoring the necessity to maintain restrictive conditions in order to control inflation.