Australian Shares Rise 0.4% to More Than Five-Week High
The S&P/ASX 200 was up 0.4% at 8,841.4 on Monday, reaching a more than five-week high. Financials gained and takeover activity lifted several stocks; softer jobs data strengthened bets that the central bank is nearing the end of its tightening cycle.
Australian shares climbed to a more than 5-week high on Monday, with the S&P/ASX 200 index ASX:XJO up 0.4% at 8,841.4. Financial stocks advanced, while a series of takeover deals boosted several shares. Softer jobs data last week also strengthened expectations that the central bank is nearing the end of its tightening cycle.