The Australian sharemarket experienced a modest relief rally on Monday, with the S&P/ASX 200 Index rising by 1.1 per cent to 7649.2 points, partially recovering from the previous week’s 2.8 per cent loss amidst eased tensions between Israel and Iran. The market rebound was attributed to the assurance that key Iranian nuclear facilities were unaffected and global markets regained stability. Sectors such as healthcare and financials performed well, while energy stocks declined as oil prices fell. Additionally, there were notable movements in the mining sector, with copper nearing $10,000 a ton and specific companies like South32 and Base Resources experiencing significant gains.
Futures
The Dow Jones futures are pointing to a rise of 117 points.
The S&P 500 futures are pointing to a rise of 20.5 points.
The Nasdaq futures are pointing to a rise of 100.75 points.
The SPI futures are up 77 points.
Best and worst performers
The best-performing sector was Health Care, up 1.97 per cent. The worst-performing sector was Energy, down 1.51 per cent.
The best-performing large cap was South32 (ASX:S32), closing 5.64 per cent higher at $3.37. It was followed by shares in SEEK (ASX:SEK) and Qantas Airways (ASX:QAN).
The worst-performing large cap was Mercury NZ (ASX:MCY), closing 5.94 per cent lower at $5.86. It was followed by shares in Woodside Energy Group (ASX:WDS) and Yancoal Australia (ASX:YAL).
Asian markets
Japan’s Nikkei has gained 1.00 per cent.
Hong Kong’s Hang Seng has gained 1.92 per cent.
China’s Shanghai Composite has lost 2.05 per cent.
Commodities and the dollar
Gold is trading at US$2,379.80 an ounce.
Iron ore is 0.3 per cent lower at US$117.50 a tonne.
Iron ore futures are pointing to a 0.5 per cent fall.
Light crude is trading $0.71 lower at US$82.43 a barrel.
One Australian dollar is buying 64.33 US cents.