The ASX 200 rose 63 points, or 0.7%, on Monday to finish at a one-week high of 8,780, extending its recent gains as firmer U.S. equity futures followed a pullback in oil prices. Risk sentiment improved after President Trump indicated that Russia and Ukraine had agreed not to target each other’s energy infrastructure, while Iran moved to open talks with Saudi Arabia in the wake of Houthi attacks. At the same time, Australia lifted its travel advisory for Saudi Arabia to “Do Not Travel.”
Sector moves were mixed: commercial services, manufacturing, and non-energy minerals led the advance, more than offsetting declines in communications, technology, and industrials. Among heavyweight names, BHP Group climbed 2.4% and Rio Tinto added 1.3%, while the big four banks gained between 1% and 2.3%. Other notable performers included Bluescope Steel, up 3.7%, Sandfire Resources, up 3.5%, Xero, up 3.3%, and Seek, up 2.3%.
Investors are now looking ahead to the Reserve Bank’s meeting minutes, along with September data on the labor market, business confidence, and the leading index. In China, attention turns to the upcoming releases of CPI, PPI, and trade figures later this week.
