2026.07.2701:11:13UTC+00Broad Gains Push Australian Shares Up at Week’s Open

Australian stocks rose 79 points, or 0.9%, to 8,851 in early trade on Monday, rebounding from the prior session’s weakness and tracking stronger U.S. stock futures. Sentiment improved as oil prices eased following a pause in U.S.–Iran tensions over the weekend.

On the domestic front, flash PMI data showed services activity posting its strongest gain in six months in July, while manufacturing output recorded its biggest increase so far this year. However, upside was limited by caution ahead of June inflation data due later this week, amid ongoing concerns about stubborn price pressures in Australia.

Traders also remained watchful of first-half 2026 industrial profit figures from China, Australia’s largest trading partner, due later today. That release follows January–May data showing an 18.8% surge in profits, underpinned by a boom in AI-related investment.

Gains on the ASX were broad-based, led by technology, non-energy minerals, and commercial services stocks. The big four banks advanced between 0.2% and 0.8%, while BHP Group added 1.7%. Notable movers included Northern Star Resources (up 3.2%), Goodman Group (2.7%), and CSL (2.2%).