A relief rally lifted the ASX off a two-month low amid commodity price gains and hopes for a pause in hostilities between Israel and Iran.
The ASX 200 bounced 82 points or 1.08% after copper neared a two-year high and nickel surged 4.1%. Diversified miner South32 soared 5.64%, Nickel Industries gained 4.12% and BHP added 1.77%.
Buyers were encouraged by a rally in US equity futures as tensions in the Middle East appeared to subside over the weekend. S&P 500 futures advanced 0.35%, hinting at a recovery following the benchmark's worst week in more than a year. Tech earnings look likely to set the tone this week before inflation data on Friday.
