The Australian sharemarket closed higher on Monday, with energy stocks rising despite the government’s announcement of a gas reservation plan.
The ASX 200 finished up 78.5 points or 0.9% to 8,699.9, a 20-day high. All 11 sectors rose during the session, led by a 2.3% gain in materials stocks and a 1.5% boost for the energy sector.
Australia’s government will require exporters to set aside 15-25% of gas production for the domestic market, it said today.
“More affordable Australian gas for Australian users will support our economy and our transition, while remaining a reliable energy partner to our region,” said Climate Change and Energy Minister Chris Bowen. “Gas has an important role to play in our energy system as we transition towards 82% renewables.”
Santos shares closed 1.5% higher. Beach Energy shares rose 1.3%, and Woodside shares were up 0.8%.
Uranium stocks also increased during today’s session. NexGen Energy shares were up 8.6%, and Silex Systems shares rallied 7.7%.
Nick Scali shares surged 10.2% after upgrading its revenue forecast. It expects revenue growth of 10-12% during the first half of fiscal 2026, up from its prior projection of 7-9%.
WiseTech Global’s shares saw the greatest decline today, sinking 4.2%. While a board review into executive chair Richard White found no further issues requiring investigation, the company then said on Friday that White had entered into a collar derivative transaction involving 20 million WiseTech shares with Macquarie Bank to refinance debts.
Australia’s two-year government bond yields rose 0.7% to 4.075%, while 10-year yields were roughly flat at 4.799%. Earlier in the session, 10-year yields reached 4.81%, the highest point since October 2023.
