FX.co ★ ASX 200 Surges 2.6% at Finish

The ASX 200 jumped 231 points, or 2.6%, to close at 9,065 on Thursday, erasing earlier losses and marking a two-month high. Risk sentiment improved after a Wall Street rally on Wednesday, as a Democratic sweep in the U.S. midterm elections boosted global appetite for equities.

Gains were broad-based across Australian sectors, led by technology, non-energy minerals, and healthcare. Data centre operator Nextdc surged 51% after stating that recent stake-building by entities linked to Goodman Group and Digital Realty was opportunistic rather than a formal takeover approach.

Mining heavyweights also advanced sharply, with BHP Group up 6.2% and Rio Tinto rising 7% as copper and iron ore prices rebounded. Higher gold prices and a weaker U.S. dollar supported strong moves in gold miners, including Northern Star Resources, which climbed 9.9%, and Evolution Mining, which soared 14.2%.

Lower oil prices underpinned solid gains in airlines, with Qantas Airways adding 6.2% and Virgin Australia rising 11.2%. In contrast, energy stocks weakened, as Woodside Energy fell 6.0% and Santos slipped 5.4%. Three of the four major banks also declined, losing between 0.6% and 5.4%.