12.01.202600:49:35UTC+00Australian Shares Hit 2-Week High

The S&P/ASX 200 index experienced a notable uptick of 0.7%, reaching 8,781 on Monday, its peak in a fortnight. This rise mirrored a robust performance from Wall Street, where US indices hit record highs last Friday. The boost followed the release of nonfarm payroll data that fell short of predictions, alongside a slight decrease in the unemployment rate, suggesting a stable yet decelerating labor market. On the home front, Australian household spending increased by 1.0% month-on-month in November 2025, a slowdown compared to the revised 1.4% growth observed in October. This reflects consumers' wary stance amid ongoing inflationary pressures and elevated interest rates. Furthermore, ANZ-Indeed's data revealed a 0.5% decline in Australian job advertisements in December, succeeding a revised 1.5% drop in the prior month, indicating a weakening demand for labor. The financial sector drove the market's gains, with major banks such as CBA, Westpac, NAB, and ANZ recording increases between 1% and 1.9%. Concurrently, energy stocks showed strong performance due to rising oil prices, sparked by increasing unrest in Iran and the subsequent fears of potential supply interruptions. Companies such as Woodside Energy Group, Santos, and Beach Energy saw their shares climb between 0.6% and 3.4%.