The Australian share market reached new heights on Monday, closing at an all-time record for the seventh time this month.
The S&P/ASX 200 Index climbed 0.7%, or 57.6 points, to 8269.8, marking a 6.5% increase for the September quarter - its best three-month gain in a year.
The surge was led by strong performances in the energy and materials sectors, spurred by rising oil prices following Israel's attacks in Lebanon and Yemen.
Fears of Iran's potential involvement, given its role as a key OPEC producer, drove Brent and West Texas Intermediate crude futures up over 1%.
This boost lifted stocks like Beach Energy, Santos, and Woodside up 3.4%, 2.6% and 3.5%, respectively.
Iron ore futures also surged by 10% in Asia, continuing last week’s momentum after China announced new economic stimulus measures. The People's Bank of China ordered lenders to cut mortgage rates, while major cities like Shanghai eased home-buying restrictions. Iron ore prices climbed above $US110 per tonne for the first time since July, pushing mining giants BHP, Rio Tinto and Fortescue higher, lifting 2.7%, 1.3%, and 2.9% respectively.
Elsewhere, embattled casino operator Star Entertainment rebounded 18% to 29.5¢ after suffering a historic 44% drop last Friday.
In banking, National Australia Bank rose 1.1% to $37.35, while the Australian dollar climbed to US69.41¢, its highest level since February 2023, tracking rising iron ore prices.
On the bond markets, 10-year were at 3.978% and 2-year rates were at 3.595%.
