AUS
NZ
UK
CA
USA
IND
Highlights
- Energy stocks drive ASX higher despite market caution.
- Coal and mining stocks see notable gains, while CSL dips.
- Johns Lyng drops after removal from ASX 200; Rio Tinto advances.
The Australian share market showed resilience on Monday, supported by a rally in energy stocks, despite lingering investor concerns over recent tariff-related volatility. The S&P/ASX 200 Index inched up 0.2%, adding 14.1 points to settle at 7,962.3, while the All Ordinaries Index posted similar gains, with seven out of eleven sectors closing in the green.
However, trading remained cautious ahead of the 25% tariffs on steel and aluminum exports to the United States set to take effect this week. Market sentiment was further impacted by concerns over economic uncertainty, exacerbated by U.S. President Donald Trump’s recent comments refusing to rule out a possible recession.
Energy Sector Sees Rebound
Despite oil hovering around $US70 per barrel, energy stocks saw renewed interest from investors. Woodside Energy (ASX:WDS) climbed 1.9% to $22.91, while Santos (ASX:STO) added 1.3% to close at $6.10. This sector had suffered significant losses the previous week, primarily due to heightened demand concerns and dividend-related adjustments.
Coal miners also contributed to the market’s gains. Yancoal (ASX:YAL) rose 2.5% to $6.12, while Whitehaven Coal (ASX:WHC) advanced 3.1% to $5.90. Although benchmark Newcastle coal futures slipped 1.4% to $US103.25 per tonne, they still marked their second-best weekly gain this year.
Stocks on the Move
Mining heavyweight Rio Tinto (ASX:RIO) provided a further boost, gaining 3.1% to $118.71 after the company scrapped plans for a $US5 billion share sale following investor pushback. Meanwhile, Mayur Resources (ASX:MRL) surged 7.4% to 29¢ after renowned businessman Gerry Harvey became a key investor in the Papua New Guinea-focused miner.
On the downside, CSL (ASX:CSL) fell 1.6% to $255.40, trading ex-dividend. Additionally, cryptocurrency markets were rattled after Trump’s recession remarks, leading to Bitcoin slipping below $US81,000.
Johns Lyng Faces ASX 200 Exit
A major decline was seen in Johns Lyng Group (ASX:JLG), which slumped 12.5% to $2.45 following news that the insurance repair specialist will be removed from the ASX 200 in the upcoming quarterly rebalance.
In corporate developments, Star Entertainment (ASX:SGR) remains under review as it evaluates a potential rescue deal from U.S. casino operator Bally’s, following its recent Queen’s Wharf agreement with two Hong Kong investors. Trading in Star Entertainment shares remains suspended.
While the ASX saw moderate gains, investors continue to navigate an uncertain landscape as global economic conditions and policy changes create fresh market dynamics.
