AUS
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UK
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Highlights
- Miners and banks fuel broad ASX gains
- Tech and gold stocks shine on global cues
- Neuren Pharmaceuticals soars after FDA milestone
The Australian sharemarket kicked off the week on a strong note, with major gains led by mining, banking, and technology stocks. Optimism surged following a temporary easing of tariffs in the US, boosting investor sentiment and lifting the benchmark indices across the board.
By early afternoon, the S&P/ASX 200 had climbed 1.5 per cent to 7760.3 points, while the All Ordinaries also rose by 1.5 per cent. Ten of the eleven major sectors were in positive territory, with technology stocks leading the rally, reflecting a broader uplift driven by global trade news.
The rally was particularly strong in the resources and banking sectors. Iron ore producers gained as prices climbed on renewed hopes for a resolution to US-China trade tensions. Key movers included (ASX:BHP), which rose 2.5 per cent, and (ASX:MIN), up a robust 7.4 per cent.
The financial sector also played a significant role in lifting the index. The four major banks all posted solid gains, led by (ASX:CBA) and (ASX:WBC), both up 1.7 per cent.
Driving global optimism was the US administration's decision to exempt certain electronics, such as computer hardware and smartphones, from new import tariffs. While the exemptions are temporary and a new semiconductor-specific tariff is expected, the development provided a positive jolt to sentiment. It was seen as a possible step back from the more disruptive aspects of recent trade policies.
Technology stocks on the ASX responded positively. (ASX:WTC) gained 2.8 per cent and (ASX:TNE) advanced 3.1 per cent, helping the sector rise by 2.2 per cent. Real estate stocks also joined the upswing, with data centre-focused (ASX:GMG) up 2.9 per cent and (ASX:VCX) rising 2.3 per cent.
In the gold sector, momentum continued from Friday’s rally, driven by record highs in gold prices. (ASX:NEM) climbed 4.4 per cent as investors looked to the sector for defensive strength.
Among standout performers, (ASX:NEU) led the index with a 20.5 per cent jump after securing US FDA support for a critical drug trial outcome, paving the way for final approval. Defence tech firm (ASX:DRO) surged 16.5 per cent after announcing five repeat contracts worth $32.2 million with a regional ally.
Elsewhere, (ASX:MAF) recovered early losses to end 2.8 per cent higher after reporting a 20 per cent increase in fund inflows during the first quarter. Gold developer (ASX:DEG) edged up 1.8 per cent following support from minority shareholder (ASX:GOR) for its proposed acquisition by Northern Star.
The upbeat session reflected broader relief in markets, though some analysts cautioned that sustainability of the gains may hinge on upcoming economic data and earnings results.
