Australia's mining stocks jump as Trump agrees to two-week ceasefire

Stanmore Resources

08/04/2026 02:26

** Australia's mining stocks .AXMM rise as much as 5.3% to their highest level since March 6

** Oil slides below $100 per barrel after U.S. President Donald Trump agreed to a two-week ceasefire with Iran O/R

** Worries that the Iran conflict and surging oil prices would raise fuel costs, had led to sharp sectoral losses in March MET/L

** Mining giants BHP BHP.AX, Rio Tinto RIO.AX and Fortescue FMG.AX gain between 3.1% and 4.3%

** BHP, RIO and FMG shed 13.7%, 3.5% and 3.9%, respectively, in March

** Sub-index up 12.7% this year, including day's move

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))