The Australian sharemarket delivered its strongest one-day advance since April 2025 on Monday, as investors returned to beaten-down technology and mining stocks following last week’s sharp sell-off.
The S&P/ASX 200 Index climbed 161.3 points, or 1.9%, to close at 8,870.1, with all 11 sectors finishing in positive territory in a broad-based rally.
The technology sector led the recovery after tumbling nearly 13% last week amid concerns over artificial intelligence capital expenditure and the potential redundancy of some software providers.
WiseTech Global added 3.6%, Xero gained 1.4%, TechnologyOne added 3.5%, and NextDC rallied 4.9%.
Real estate investment trusts also enjoyed a strong session. Goodman Group was up 6.5%, Charter Hall gained 2.7%, Mirvac lifted 1.3%, and Scentre Group added 1.8%.
Mining stocks were buoyed by firmer commodity prices. Gold rose 1.6%, while silver jumped 5.9%.
Northern Star lifted 3.6%, Evolution Mining gained 4.5%, and Newmont finished 6.5% higher, tracking the lift in bullion prices.
Diversified mining giants BHP, Rio Tinto and Fortescue also advanced 1.9%, 2.1%, and 2.6%, respectively.
The local reporting season also began to gather pace, generating notable individual share price movements.
CAR Group surged 9.9% after delivering an adjusted profit of $196 million, in line with market expectations.
Pepper Money jumped 28.4% after confirming it had received a $2.60 per share takeover proposal from Challenger to acquire 100% of the company. Shares in Challenger fell 3% as investors weighed the acquisition’s financial implications.
Web Travel climbed 18.6% after reiterating its full-year earnings guidance of $147 million to $155 million. The update followed a near-30% plunge in its share price on Friday after news that its Spanish subsidiary would be subject to an audit.
Dexus Convenience Retail REIT rose 6.1% after reporting a statutory net profit of $35.8 million for the half year to 31 December, up from $14.7 million a year earlier.
On the bond markets, yields moved modestly higher. The Australian 10-year government bond yield rose 0.3% to 4.869%, while the two-year yield added 0.2% to 4.279%.
