The Australian sharemarket rebounded on Tuesday after suffering its steepest decline in months in the previous session, as easing oil prices and signs that the Middle East conflict could be nearing an end helped restore investor confidence.
The S&P/ASX 200 Index rose 93.6 points or 1.1% to 8,692.6, with nine of the 11 sectors finishing in positive territory.
The recovery followed a 2.9% fall on Monday, when surging oil prices triggered a broad risk-off sell-off across global markets.
Sentiment improved after United States President Donald Trump indicated the war with Iran could soon conclude, helping push oil prices sharply lower.
Technology stocks led the advance, as WiseTech Global added 0.8%, Xero gained 0.4%, TechnologyOne lifted 4.3%, and Life360 popped 10.3%.
The Materials sector also recorded gains, with mining heavyweights BHP and Rio Tinto finishing the session 2.3% and 0.6% higher, respectively.
Fortescue climbed 1.2% after completing its acquisition of Alta Copper, securing full ownership of the Canariaco copper project in northern Peru as the iron ore miner continues expanding its exposure to future-facing metals.
Gold miners also moved higher after the precious metal edged up overnight. Northern Star Resources added 2.6%, Evolution Mining lifted 1.7%, and Newmont gained 2%.
Healthcare companies also rose, with CSL up 1.7%, Pro Medicus surging 6.2%, while Telix Pharmaceuticals jumped 7.8% after reporting positive early-stage results from its global Phase 3 clinical trial of TLX591.
In contrast, the Energy sector retreated as oil prices pulled back sharply from recent highs.
Woodside Energy fell 3.8%, Santos lost 3.5%, Beach Energy declined 4.3%, and Viva Energy traded 2.9% lower.
In corporate developments, explosives manufacturer Orica fell 3.4% after a mixed first half business update.
On the bond markets, yields moved slightly higher. The Australian 10-year government bond yield rose 0.2% to 4.865%, while the two-year yield increased 0.8% to 4.43%.
