ASX 200 Closes 0.2% Higher
The ASX 200 added 0.2% to end at 8,680 on Monday, snapping prior losses as utilities, industrials, and healthcare lifted sentiment. Sentiment improved after the government said the 2025/26 budget deficit came in about $6 billion narrower than forecast, driven by stronger investment and income. In China, industrial profits in the Jan-August period rose solidly, though growth slowed amid uneven activity. However, gains were capped by a sharp drop in U.S. stock futures as oil prices climbed after President Trump rejected Iran’s ceasefire terms, while Treasury yields hovered at multi-year highs on the prospect of further Fed tightening. Locally, the Reserve Bank is set to raise cash rates for the fourth time this year to curb inflation. Northern Star Resources jumped 6.2% after rejecting a $38 billion takeover bid from Gold Fields. CSL climbed 2.8%, while the big four banks rose between 0.5% and 1.6%. Losers included Genesis Minerals (-5.8%), Lynas Rare Earths (-3.2%), and Nextdc (-2.7%).
2% to end at 8,680 on Monday, snapping prior losses as utilities, industrials, and healthcare lifted sentiment. Sentiment improved after the government said the 2025/26 budget deficit came in about $6 billion narrower than forecast, driven by stronger investment and income. In China, industrial profits in the Jan-August period rose solidly, though growth slowed amid uneven activity. S.
stock futures as oil prices climbed after President Trump rejected Iran’s ceasefire terms, while Treasury yields hovered at multi-year highs on the prospect of further Fed tightening. Locally, the Reserve Bank is set to raise cash rates for the fourth time this year to curb inflation. 2% after rejecting a $38 billion takeover bid from Gold Fields. 6%.
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