Australian Equities Rise for Third Session

Australian shares extended their winning streak on Tuesday, with the benchmark rising 42 points, or 0.5%, to 9,061 in early trade, marking a third straight session of gains. The advance tracked Wall Street’s overnight rally, as easing US-Iran tensions pressured oil and Treasury yields lower. Locally, upbeat July factory activity and June private credit data added to investor optimism. However, caution lingered ahead of trade figures due later this week from Australia and top trading partner China. Sectoral strength was broad, led by tech, financials, healthcare, and process industries. Qantas edged up 0.3% after agreeing to sell its minority stake in Jetstar Japan, unlocking about AUD 115 million for reinvestment. The four big banks gained between 0.7% and 1.4%. Other notable movers were Xero Ltd. (3.0%), Pro Medicus (1.5%), and Lynas Rare Earths (1.4%). Traders now await June household spending figures due later today, a key domestic demand gauge that may shape sentiment.




