FX.co ★ Australia Stocks Rise for 3rd Session as Week Opens

Australian equities edged up 25 points, or 0.3%, to 8,682 in Monday morning trade, notching a third consecutive gain as U.S. equity futures climbed on indications that an agreement to reopen the Strait of Hormuz may be near, even as President Donald Trump emphasized he would not “rush” into a deal. The advance remained modest, with investors staying cautious ahead of this week’s April CPI release, following a pickup in March inflation to 4.6%—the fastest pace since September 2023—partly driven by higher fuel costs. Markets also closely monitored upcoming U.S. PCE data for further insight into inflation trends and the outlook for interest rates. Sector performance was mixed: non-energy minerals, producer manufacturing, and process industries advanced, while energy minerals and consumer services underperformed. Three of the four major banks posted modest gains. Notable movers included Qantas Airways (up 5.1%), Northern Star Resources (4.7%), Evolution Mining (4.0%), and Lynas Rare Earths (1.9%).