Index Update:  The S&P/ASX 200 gained 121.70 points, or 1.39%, to close at 8,894.00, moving above its 200-day moving average. Australian shares recorded their largest advance in six weeks on Monday as the US and Iran avoided further retaliatory strikes, easing concerns about disruptions to Middle East energy supplies.  The index has gained 1.17% over the past five sessions and remains 3.36% below its 52-week high.

Ten of the 11 sectors finished higher. Information Technology led the rebound with a 4.52% gain, followed by Materials at 2.42% and A-REITs at 1.68%. Industrials rose 1.52%, while Health Care advanced 1.44%. Energy was the only declining sector, falling 2.99%.

Macro Update: Australian Prime Minister Anthony Albanese said he would raise newly imposed US tariffs with President Donald Trump at every level of the bilateral relationship. Washington introduced a 12.5% tariff on Australian imports as part of measures targeting 60 trading partners over alleged failures to restrict goods produced using forced labour. The Labor government described the tariffs as unjustified and called for their removal. Albanese highlighted Australia’s modern slavery provisions and ongoing efforts to strengthen supply-chain oversight, fines and penalties.

Top Market Movers: Capricorn Metals (ASX:CMM) led the gainers, rising 15.126% to AUD 13.700, followed by Bellevue Gold (ASX:BGL), which advanced 9.090% to AUD 1.380. Electro Optic Systems Holdings (ASX:EOS) gained 8.442% to close at AUD 7.450. Among the decliners, Karoon Energy (ASX:KAR) fell 7.822% to AUD 1.650, while Nickel Industries (ASX:NIC) dropped 7.186% to AUD 0.775. Yancoal Australia (ASX:YAL) declined 4.794% to finish the session at AUD 5.760.

Commodity Update:  The U.S. dollar weakened on Monday as geopolitical tensions in the Middle East eased after the United States and Iran paused military strikes over the weekend, prompting investors to unwind the risk premium that had lifted crude oil prices to multi-month highs. Market participants also remained cautious ahead of the Federal Reserve's upcoming policy decision. Gold rose 0.59% to USD 4,094.30, silver gained 1.22% to USD 59.62, and copper advanced 0.39% to USD 13,696.00, while Brent crude oil declined 5.50% to USD 91.94.

Our Stance: Australian shares posted their largest gain in six weeks as easing US-Iran tensions reduced concerns over Middle East energy supplies. The S&P/ASX 200 rose 1.39% to 8,894.00, with Information Technology leading gains across ten sectors. Gold, silver and copper advanced, while Brent crude declined 5.50% as geopolitical risk premiums eased. Meanwhile, new US tariffs on Australian imports introduced another external policy concern, with Prime Minister Anthony Albanese seeking their removal. The broad market rebound and move above the 200-day average are encouraging, although tariff uncertainty and geopolitical developments could continue to shape sentiment in the near term.

The S&P/ASX 200 advanced 121.70 points in the latest trading session, forming a bullish candlestick and signalling renewed buying interest. The broader technical outlook remains constructive, with the index continuing to trade comfortably above its 50-day Simple Moving Average (SMA), which is acting as a key dynamic support level and reinforcing the prevailing medium-term uptrend. Immediate support is positioned around the 8,800.50 level. As long as the index holds above this key support zone, the broader bullish structure is expected to remain intact, increasing the likelihood of a retest of recent highs and a continuation of the ongoing upward momentum. However, a decisive break below 8,800.50 would weaken the near-term technical outlook, potentially inviting fresh selling pressure and increasing the risk of a deeper corrective move.

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