The S&P/ASX 200 surged 190 points, or 2.2%, to end at 8,672 on the first trading day of April, extending prior gains and hitting a two-week peak. Sentiment was buoyed by stronger U.S. futures ahead of President Trump’s address on Iran, where he might suggest hostilities could end within weeks without a formal deal. Locally, Australia’s PM Anthony Albanese is set to deliver a rare national address on the Middle East conflict, with reports he will urge Australians to conserve fuel.
Local data showed building permits in Australia recovered sharply in February, led by approvals for private-sector dwellings excluding houses. Logistics, manufacturing, and energy minerals logged solid gains, offsetting falls in consumer durables and commercial services. Qantas rose 3.6% after regulators granted interim approval to extend its partnership with American Airlines. Other standouts included Northern Star (8.6%), BHP (4.3%), and Macquarie (3.3%). The four major banks advanced between 1.1% and 2.5%.
