XMM 0.24% 6,263.2 s&p/asx 300 metals and mining

News: XMM Australian shares snap three-day losing run to rise on strong commodity stocks

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    	  CPI data due on Wednesday 
    

    	  Mining, energy and financial stocks in the green 
    

    	  Healthcare and consumers limit gains 
    

    (Updates to close)

    Australian shares snapped a three-day losing streak to end higher on Tuesday, reflecting strength from miners and energy companies, which offset a drag in healthcare and consumer stocks.

    The S&P/ASX 200 index (xjo) ended 0.2% higher at 6,856.9 points after rising as much as 0.5% earlier in the session.

    The benchmark recovered from a one-year low hit on Monday. Miners .AXMM emerged as top gainers on the benchmark, ending the day 1% higher on a rebound in iron-ore prices.

    Mining behemoths BHP Group (BHP) , Rio Tinto (RIO) and Fortescue Metals (FMG) added between 0.5% and 2.6%.

    Energy stocks .AXEJ , which have climbed in the past week on worries over oil supply, resumed the rally as underlying prices recovered some lost ground.

    Oil and gas major Santos (STO) climbed 0.6%. Banks .AXFJ were also major gainers on the benchmark, ending the day 0.1% up, with the "Big Four" banks trading in the green. Asset manager Macquarie Group (MQG) advanced 0.6%.

    Shares of rare earths giant Lynas (LYC) ended the day 12.4% higher after the Malaysian government said it will allow the company to import raw materials that contain natural radioactive material until March 2026.

    Investors now await Australia's September inflation data, which will likely set the tone for the Reserve Bank of Australia's (RBA) next policy meeting.

    Analysts at National Australia Bank expect the country's central bank to hike rates if September inflation reading comes in above its August forecast.

    Healthcare stocks .AXHJ were a major drag on the benchmark, falling 0.3%. Sector major Pro Medicus (PME) and Ramsay Healthcare (RHC) fell 2% and 0.2%, respectively.

    Consumer stocks .AXSJ shed 1%, with retailers Woolworths (WOW) and Coles (COL) down 1.3% and 0.9%.

    New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.3% to end the session at 10,960.6 points.

 
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