The Australian sharemarket rebounded on Tuesday, snapping a five-day losing streak after United States President Donald Trump announced a ceasefire between Iran and Israel.
The benchmark S&P/ASX 200 Index climbed 80.6 points or 1% to 8,555.5, with eight of 11 sectors trading higher.
Financials and Materials sectors led the rally, as major banks and miners posted strong gains.
Commonwealth Bank rallied 2.1% to fresh record highs of $188.13, while Macquarie Group lifted 2.4%, ANZ added 1.4%, NAB gained 2.2%, and Westpac increased 2.6%.
In the mining sector, BHP was up 2.4%, Fortescue Metals gained 4.8%, and Champion Iron finished 3.5% higher.
Rio Tinto added 3.1% after confirming a US$1.6 billion (A$2.4 billion) iron ore project joint venture in Western Australia with Hancock Prospecting.
However, energy stocks lagged amid the decline in crude, with Woodside Energy shedding 6.5%, Santos down 1.5%, and Viva Energy falling 3.2%.
Virgin Australia made a strong debut on the ASX, opening at $3.12 — a 7.5% gain on its $2.90 issue price. The stock traded as high as $3.25 before closing at $3.22.
Collins Foods surged 17.4%, despite reporting an 88.5% fall in full-year net profit.
Cogstate jumped 10% after the company upgraded its FY25 guidance, forecasting a 20%–24% revenue rise on strong performance and an improved outlook.
On the bond markets, yields edged lower amid easing geopolitical tensions. The 10-year yield fell 0.4% to 4.157%, while the 2-year declined 0.6% to 3.237%.
