Australian shares finished the trading day higher on Monday as sector gains in information technology, gold and materials pushed the S&P/ASX 200 up 1.39% to a new one-month high.
At the close in Sydney, the benchmark index stood higher by 1.39% as a broad group of stocks advanced. On the winners list, Capricorn Metals Ltd (ASX:CMM) led with a 14.45% jump, adding 1.72 points to close at 13.62. Wisetech Global Ltd (ASX:WTC) rose 6.53%, or 1.96 points, to finish at 31.98. Westgold Resources Ltd (ASX:WGX) also posted a strong gain, up 6.49% or 0.30 points to 4.92.
Not all names participated in the rally. Nickel Mines Ltd (ASX:NIC) was the session's largest decliner, slipping 8.68% or 0.07 points to close at 0.76. Stanmore Coal (ASX:SMR) fell 4.91%, a drop of 0.14 points, to end at 2.71. Yancoal Australia Ltd (ASX:YAL) declined 4.46% or 0.27 points to finish at 5.78.
Market breadth favored advancers, with 652 stocks rising against 406 falling on the Sydney exchange, while 393 issues finished unchanged.
Risk sentiment, as measured by the S&P/ASX 200 VIX - the implied volatility gauge for S&ASX 200 options - eased, falling 2.90% to 11.35 at the close.
Commodities showed mixed moves. Gold futures for August delivery were higher by 0.66% or $26.90, trading at $4,097.70 a troy ounce. In contrast, crude oil retreated: September delivery crude fell 6.10% or $5.45 to $83.86 a barrel, while the October Brent contract dropped 5.46% or $5.01 to trade at $86.67 a barrel.
Currency markets saw modest movement. AUD/USD was reported unchanged at 0.70 with a 0.37% figure noted, while AUD/JPY rose 0.19% to 114.60. The US Dollar Index Futures was down 0.32% at 100.98.
Market context
The day’s advances were concentrated in sectors that include information technology, and companies tied to gold and other materials, which contributed to the S&P/ASX 200 reaching its one-month high. At the same time, notable weakness among select mining and coal names weighed on parts of the materials complex.
What to watch
- Performance of large materials and mining names that recorded outsized moves in both directions.
- Movement in implied volatility as reflected in the S&P/ASX 200 VIX.
- Commodity price trajectories, particularly oil and gold, which moved in opposite directions during the session.