FX.co ★ Australia Shares Rally as New Month Begins

Australian equities climbed 133 points, or 1.6%, to 8,615 by midday in the first trading session of April, extending a rally following a strong surge on Wall Street on Tuesday. Market sentiment improved after Iranian President Masoud Pezeshkian signaled a willingness to negotiate an end to the war, while reports suggested U.S. President Trump may conclude military operations without fully reopening the Strait of Hormuz.

On the domestic front, data showed a sharp rebound in building permits in February, driven largely by approvals for private-sector dwellings excluding houses. Nearly all sectors within the ASX 200 advanced, with the strongest gains in non-energy minerals, commercial services, consumer durables, and logistics.

Upside momentum was tempered by caution ahead of this week’s domestic trade data, after January figures showed exports declining while imports increased. Among the top performers were Northern Star Resources (up 6.8%), Sandfire Resources (up 6.2%), PLS Group (up 5.5%), BHP Group (up 4.3%), and Fortescue Ltd. (up 3.2%).