09.02.202600:18:34UTC+00Australian Shares Start Week Strong

The S&P/ASX 200 index rose by 1.6% to reach 8,847 on Monday, recovering from substantial losses recorded the previous week. This surge mirrored notable advances seen on Wall Street last Friday, as U.S. equities gained traction following decreased concerns about AI-induced disruptions, which buoyed technology stocks. In Australia, the focus has now shifted to an eventful week of corporate earnings reports from several major companies. Shares of CAR Group jumped 11.5% after the company announced an increase in first-half net profit and confirmed its fiscal year 2026 outlook. The index also received a boost from materials stocks, with mining heavyweights BHP Group up by 2.2%, Rio Tinto by 2.4%, and Fortescue by 1.9%. Additionally, gold producers outperformed, with Newmont Corporation increasing by 4.7%, Northern Star Resources rising by 2.8%, and Evolution Mining gaining 2.6%, supported by strong underlying commodity prices.