News: CBA Australia shares hit 7-month peak on commodity, financial boost

	  Gold, energy stocks lead benchmark higher  

	  Super Retail Group emerges as top gainer 

	  All indexes in green  

(Updates to close)

Australian shares hit their highest level in seven months on Monday, led by commodity and financial stocks after softer U.S. inflation data last week bolstered hopes of smaller rate hikes by the Federal Reserve.

The S&P/ASX 200 index (xjo) rose for the fourth straight session, ending 0.8% higher, while all the sub-indexes traded in the green. The benchmark touched its highest level since May 2, 2022.

U.S. consumer prices fell unexpectedly for the first time in more than 2-1/2 years in December, data showed last Thursday, indicating the Fed could pare back its aggressive rate hike campaign adopted in 2022.

Investors will now keep an eye out for an Australian jobs report and U.S. retail sales data, due later this week, for more cues on central banks' actions.

On the domestic front, shares in gold explorers .AXGD gained the most in the benchmark, advancing 2.1%, with index majors Newcrest Mining (NCM) and Northern Star Resources (NST) rising 2.3% and 2.7%, respectively.

"The combination of China reopening, stimulus from Beijing and expectations of a less aggressive Fed has done wonders for equities and metals, in particular for gold," Matt Simpson, a senior analyst from City Index said.

Energy stocks .AXEJ gained about 1.5%, with sector heavyweights Santos (STO) and Woodside Energy (WDS) firming about 0.6% and 1.6%, respectively.

Financials .AXFJ rose 0.9%, with Commonwealth Bank of Australia (CBA) and Westpac (WBC) gaining 0.8% and 1.1%.

Super Retail Group (SUL) was the top gainer on the benchmark index, having jumped 7.7%, after the company raised forecasts for its half-year results.

New Zealand's benchmark S&P/NZX 50 index (nz50) finished 0.5% higher at 11,181.24 points.