FX.co ★ Australian Equities Rebound After Recent Losses

Australian stocks climbed 67 points, or 0.8%, to 8,993 in Tuesday morning trade, breaking a two-session losing streak. The gains followed a rally on Wall Street Monday, supported by renewed optimism over a possible resolution to the Middle East conflict, despite the failure of recent U.S.-Iran talks over the weekend. Most sectors in the ASX 200 advanced, led by commercial services, healthcare, mining, and utilities. Upside momentum was partly restrained, however, after fresh data showed Australia’s consumer confidence in April fell to its lowest level since November 2023, underscoring mounting concerns about the economic and inflationary fallout from the Iran conflict. Investor sentiment also remained cautious ahead of key data releases, including March trade figures due later today from major trading partner China and Australia’s labor market report scheduled for later this week. Notable gainers included WiseTech Global (up 6.7%), Xero Ltd. (5.0%), Lynas Rare Earths (3.1%), Sonic Healthcare (2.1%), and BHP Group (1.9%).