The Australian share market extended its gains on Wednesday, retesting record high valuations a strong rally in the mining sector and a rebound in the big four banks.
The benchmark S&P/ASX 200 index climbed 60.0 points or 0.7% to close at 8,737.2. Nine of the 11 industry sectors ended the day in positive territory.
Materials led the advance, with Rio Tinto up 1.1%, Fortescue Metals gaining 2%, and BHP rising 0.9%.
The rally followed a recent jump in Singapore iron ore futures, which climbed to five-month highs overnight.
Financials also contributed to the broader market lift, with Commonwealth Bank up 0.5%, Westpac adding 1.4%, and ANZ lifting 2.5%.
In the energy sector, Woodside Energy rose 1.5% after reporting second-quarter production of 50 million barrels of oil equivalent, up 2% from Q1 2025.
Among individual companies, Paladin Energy fell 11.3% after issuing a mixed June quarter update and forecasting uranium oxide output between 4 million and 4.4 million pounds at its Langer Heinrich Mine.
Iluka Resources advanced 4.1% after meeting full-year zircon production guidance. The company cited ongoing trade policy uncertainty as a challenge for future outlooks.
Telix Pharmaceuticals plunged 15.1% after disclosing a subpoena from the U.S. Securities and Exchange Commission related to prostate cancer therapy disclosures.
Ampol gained 3.3% after flagging first-half EBITDA of approximately $640 million, with strong New Zealand and convenience operations offsetting weaker refining volumes.
Vulcan Energy Resources added 3.7% after announcing up to €104 million (A$186 million) in grant funding from the German federal and state governments.
On the bond market, yields climbed. The 10-year bond rose 0.4% to 4.302%, while the 2-year gained 0.5% to 3.339%.
