Australian Shares Rebound as Investors Eye RBA Meeting Minutes

2 min read | March 03, 2025 11:23 AM AEDT | By Team Kalkine Media

Australian Shares Rebound as Investors Eye RBA Meeting Minutes — Image source: shutterstock

Wall Street Influence & Global Factors

U.S. stocks ended higher on Friday, despite volatility following a failed meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy. The S&P 500 initially dipped but recovered to close with gains, helping lift sentiment in Australian markets.

Locally, investors are closely watching the RBA's minutes, due out Tuesday, for clues on future rate movements. The central bank cut interest rates last month for the first time in over four years, but flagged a cautious approach to further easing.

Sector Performance

All sectors traded in the green, with miners driving the upward momentum:

Mining Stocks: The sector rose 0.5%, as BHP Group gained 0.4%, and Rio Tinto jumped 1.4% after restarting its Dampier port operations, which had been halted by Cyclone Sean.
Financials: The sector edged up 0.2%, with the 'Big Four' banks rising between 0.5% and 0.7%.
Gold & Tech Stocks: Gold stocks added 0.4%, while technology shares climbed 0.6%, reflecting steady investor interest in defensive and growth sectors alike.

Corporate News & Market Movements

In a notable development, the Australian Securities Exchange (ASX) suspended trading in Star Entertainment Group (ASX:SGR) after the casino operator missed its H1 earnings report deadline last week, adding a touch of uncertainty to the market.

Meanwhile, across the Tasman, New Zealand's S&P/NZX 50 fell 0.7% to 12,513.57, underperforming its Australian counterpart.

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