Aussie market rebounds sharply after heavy losses

Australia's share market has rebounded with gusto from the previous session, recapturing the bulk of Friday's more than $60 billion in losses.

The S&P/ASX200 surged 161.3 points on Monday, up 1.85 per cent, to 8,870.1, while the broader All Ordinaries rose 176.5 points, or 1.97 per cent, to 9,131.1.

A recovery for local stocks followed the worst session in 10 months on Friday, which wiped more than $60 billion from the top-500's combined $3.1 trillion market cap.

Broad-based gains across sectors

“It has been a very interesting five and a half weeks in 2026, and it's continued today — just a remarkable rebound,” IG market analyst Tony Sycamore told AAP.

“If you look at the sectors that are doing well, it's the ones which got absolutely pulverised on Friday.”

Real estate and IT stocks each jumped more than 3.2 per cent, while basic materials rose three per cent as all 11 sectors finished higher.

Gold and metals stocks lead the charge

Gold miners were among the market’s strongest performers as precious metals continued to swing sharply following their late-January sell-off.

Gold firmed to $US5,022 ($A7,147) an ounce during the session, lifting Evolution and Northern Star more than 3.5 per cent each, while Denver-based Newmont surged 6.5 per cent to $164.92.

Iron ore giants BHP and Rio Tinto traded roughly two per cent higher, despite iron ore futures hovering near six-month lows just below $US100 a tonne.

Copper stocks Sandstone and Capstone climbed more than four per cent, as did rare earths producer Lynas after a difficult week.

Energy and consumer stocks also higher

The energy sector rose 1.8 per cent despite a quiet day for oil prices following US–Iran talks over the weekend, with coal miners and uranium stocks contributing to gains.

Consumer-facing sectors also performed well, with discretionary stocks up 1.7 per cent and staples gaining about one per cent.

Australian dollar strengthens

The Australian dollar was trading at 70.29 US cents, up from 69.55 US cents on Friday, supported by last week’s Reserve Bank interest rate hike and market expectations of another increase by June.