The Australian share market closed modestly higher on Monday, supported by trade optimism and sectoral strength in healthcare and communication services, while losses in energy and mining stocks capped broader gains.
The benchmark S&P/ASX 200 Index rose 30.8 points or 0.4% to 8,697.7, with eight of the 11 industry sectors finishing in positive territory.
The market tracked gains in U.S. equity futures after Washington finalised a trade deal with the European Union and appeared poised to extend a tariff truce with China.
Telecommunications Services led the gains as Telstra lifted 0.8%, while Health Care companies, including CSL, ResMed, and Ramsay Healthcare, also advanced.
Financials added 0.9% overall, with Macquarie Group rising 1% as buyers returned following last week’s sharp decline.
Commonwealth Bank, Westpac, National Australia Bank, and ANZ lifted 1.2%, 0.5%, 0.7%, and 0.4%, respectively.
However, these advances were partially offset as coal companies retreated following a court decision last week overturning the 2022 approval of a Hunter Valley coal project.
Whitehaven Coal fell 4.2%, while Yancoal dropped 2.6%.
Boss Energy plunged 44% after warning it might face difficulties reaching nameplate production capacity at its Honeymoon uranium project.
Iron ore miners also weighed on the index, as Singapore iron ore futures declined 1.9% to US$101.35 per tonne.
Major producers BHP, Rio Tinto, and Fortescue Metals Group fell 1.2%, 1.6%, and 1.1%, respectively.
In corporate news, WiseTech Global finished 0.3% higher, confirming Zubin Appoo as its new permanent CEO.
Travel agency Helloworld Travel surged 14.1% after upgrading its full-year earnings guidance to between $58 million and $62 million.
On the bond markets, 10-year and 2-year rates were down 0.1% and 0.6% to 4.349% and 3.41%, respectively.
