FX.co ★ ASX 200 Soars to Strongest Gain Since Early February

The S&P/ASX 200 jumped 155 points, or 1.85%, to close at 8,534 on Wednesday, marking its strongest daily gain since February 9 and extending the previous session’s rise. The rally mirrored a rebound in U.S. futures after President Donald Trump signaled progress in negotiations to end the Middle East conflict, including concessions from Tehran, which boosted global risk appetite.

On the domestic front, Australia’s annual inflation eased unexpectedly. Headline CPI dipped to 3.7% in February from 3.8% in the prior two months, while trimmed mean CPI slipped to 3.3%, undershooting forecasts and January’s 3.4% reading. Markets now assign roughly a 50% probability to the Reserve Bank of Australia lifting the cash rate to 4.35% in May.

Mining stocks advanced, with Rio Tinto gaining 1.6% after the federal government pledged AUD 2 billion in support for the Boyne smelter operations. Financials rose 1.3%, while gold miners rallied 8.2%, led by Evolution Mining, which jumped 8.5%. In contrast, energy stocks underperformed, with Santos falling 2.3% and Woodside losing 3.2%.