The Australian sharemarket started the week higher, led by a rally in mining stocks that pushed BHP to a record closing high as investors looked past elevated government bond yields despite efforts by U.S. Treasury Secretary Scott Bessent to stabilise the market.
The S&P/ASX 200 Index gained 44.2 points, or 0.5%, to 9,103.1, even as six of the 11 sectors finished lower.
The Materials sector led the gains, with BHP rising 3% to a record closing high. Rio Tinto added 1.2%, while Fortescue Metals Group advanced 1%.
Gold miners also gained as spot gold climbed to fresh multi-month highs. Northern Star Resources rose 1.8%, Evolution Mining added 2.5%, and Newmont gained 2.4%.
The Information Technology sector also advanced, with WiseTech Global up 2.7%, Xero gaining 2% and TechnologyOne rising 2.9%.
Among individual stocks, Ansell hit a five-year high after reporting US$208.6 million (A$291 million) in net profit after tax for the year ended 30 June.
Ampol climbed 4.3% to a record closing high after its first-half profit surged almost fivefold to $857.2 million. The company also increased its dividend more than fourfold following a sharp rise in oil prices amid the Iran war.
Endeavour Group fell 4.7% after reporting net profit after tax of $52 million for the 12 months to 30 June, down 87.8% versus FY25.
On the bond markets, the 10-year yield fell 0.9% to 4.991%, while two-year rates rose 0.1% to 4.562%.
