Australian equities finished the trading day in positive territory on Monday, with the benchmark S&P/ASX 200 gaining 0.40% at the close in Sydney. Strength in the Gold, Metals & Mining and Materials sectors provided the primary upward momentum.
The session's strongest performers on the S&P/ASX 200 were Genesis Minerals Ltd (ASX:GMD), which climbed 9.32% or 0.55 points to finish at 6.45; Whitehaven Coal Ltd (ASX:WHC), up 9.19% or 0.75 points to end at 8.91; and IperionX Limited (ASX:IPX), which rose 8.19% or 0.42 points to 5.55 by the close.
On the downside, Viva Energy Group Ltd (ASX:VEA) led the laggards, retreating 5.19% or 0.12 points to trade at 2.19 at the close. Seek Ltd (ASX:SEK) fell 4.80% or 0.61 points to finish at 12.10, and Woodside Energy Ltd (ASX:WDS) declined 4.42% or 1.42 points to close at 30.68.
Market breadth was narrowly positive, with 592 stocks rising, 547 declining and 405 unchanged on the Sydney Stock Exchange.
Seek's share price reached a five-year low on the session, slipping 4.80% or 0.61 to 12.10.
Volatility as measured by the S&P/ASX 200 VIX edged up 0.41% to 12.62, signaling a slight increase in implied option market volatility on the index.
In commodities trading, Gold Futures for August delivery increased 0.68% or 31.11 to $4,587.51 a troy ounce. Energy markets moved in the opposite direction: crude oil for July delivery fell 5.48% or 5.29 to $91.31 a barrel, while the August Brent contract fell 4.95% or 4.96 to trade at $95.25 a barrel.
Foreign exchange instruments showed mixed moves. AUD/USD was unchanged 0.53% to 0.72, while AUD/JPY rose 0.35% to 113.87. The US Dollar Index Futures slipped 0.21% to 98.98.
In sum, the day's trade was characterized by miner-led strength that lifted the headline index, against a backdrop of softer oil prices and a modest uptick in volatility. Broad participation in advancing names was only marginally greater than decliners, and individual large-cap weaknesses weighed on parts of the market.
Key data points cited in this report:
- S&P/ASX 200: +0.40%
- Top gainers: GMD +9.32% to 6.45; WHC +9.19% to 8.91; IPX +8.19% to 5.55
- Top decliners: VEA -5.19% to 2.19; SEK -4.80% to 12.10; WDS -4.42% to 30.68
- Market breadth: 592 advancers, 547 decliners, 405 unchanged
- S&P/ASX 200 VIX: +0.41% to 12.62
- Gold (Aug futures): +0.68% to $4,587.51 per troy ounce
- Crude oil (July): -5.48% to $91.31 per barrel; Brent (Aug): -4.95% to $95.25 per barrel
- AUD/USD: unchanged 0.53% to 0.72; AUD/JPY: +0.35% to 113.87
- US Dollar Index Futures: -0.21% at 98.98