Australian Shares Steady as Energy Gains Offset Gold Slump
· Business · LiveMint, Economic Times
Australian shares traded in a narrow range on Monday as rising oil prices supported energy stocks, partially countering a decline in the gold sector. The S&P/ASX 200 index held at 9,009.60, with sector leaders Woodside Energy and Santos recording gains. Gold stocks fell 1% following a stronger-than-expected U.S. jobs report that increased expectations for a Federal Reserve rate hike. Meanwhile, Ingenia Communities Group shares surged 20.3% after the property developer rejected a takeover bid from Warburg Pincus.
Why it matters
The market performance reflects shifting investor sentiment driven by geopolitical tensions in the Middle East and evolving expectations for U.S. monetary policy.
Read the original report — LiveMint
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