Australian shares climb as miners, banks lead broad-based rally

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20/11/2025 24:43

Nov 20 (Reuters) - Australian shares advanced on Thursday, poised to snap three consecutive sessions of losses, as broad-based buying lifted most sectors, with heavyweight mining and banking stocks leading the rally.

The S&P/ASX 200 index .AXJO was up 0.7% at 8,509.80, as of 2321 GMT, but still down nearly 7% since touching a record high on October 21. The benchmark fell 0.3% to close at a five-month low on Wednesday.

Miners .AXMM rose nearly 1% on Thursday, moving in tandem with solid gains in iron ore and copper prices. Sector majors BHP BHP.AX and Rio Tinto RIO.AX advanced 0.6% and 0.5%, respectively. IRONORE/ MET/L

Gold miners .AXGD also added to the gains, up 1.1%, on higher bullion prices. Index leaders Northern Star Resources NST.AX and Evolution Mining EVN.AX climbed 0.5% and 1.5%, respectively. GOL/

Local lithium miners rose on the day, buoyed by a rebound in demand for the battery metal following Chilean miner SQM's upbeat quarterly results. Pilbara Minerals PLS.AX and IGO IGO.AX surged 3.5% and 4.2%, respectively.

Financials .AXFJ rose 0.5%, with top lender Commonwealth Bank of Australia CBA.AX edging 0.5% higher.

However, the banking sub-index is still down nearly 8% so far this month, eyeing its weakest monthly move since June 2022, as investors contended with margin pressures and fierce competition within the sector.

Technology stocks .AXIJ surged 4.1%, eyeing their strongest trading session since mid-April. The sub-index tracked its Wall Street peers higher after artificial intelligence darling Nvidia NVDA.O forecast quarterly revenue above market estimates, temporarily calming investor nerves frayed over concerns that an AI boom has outrun fundamentals. .N

Logistics software maker WiseTech Global WTC.AX rose 3.3%, while accounting software provider Xero XRO.AX advanced 3.2%.

Healthcare stocks .AXHJ rose 1% and the consumer discretionary sub-index .AXDJ advanced 0.9%.

Energy stocks .AXEJ bucked the broader gains, slipping 0.3%, as oil prices eased on a renewed U.S. push to end Russia's war in Ukraine, which tempered supply concerns. Woodside Energy WDS.AX fell 0.7% while Santos STO.AX dropped 0.9%. O/R

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 inched 0.3% higher to 13,360.84.

 (Reporting by Nikita Maria Jino in Bengaluru; Editing by Sherry Jacob-Phillips)

 ((Nikita.Jino@thomsonreuters.com;))