ASX Today Live News & Analysis

Australia's share market has bounced from a recent sell-off after hopes of US interest rate cuts overwhelmed a gloomier outlook for local borrowing costs.

The S&P/ASX200 jumped 108.6 points on Monday, up 1.29 per cent, to 8,525.1, as the broader All Ordinaries gained 114.1 points, or 1.31 per cent, to 8,800.4.

There have been seven positive sessions in the past 21 trading days, and with five of those being Mondays, traders won't be reaching for the champagne just yet.

"It's been a very, very clear pattern, but what happens after here is anyone's guess," IG market analyst Tony Sycamore told AAP.

"But I suspect with US rate cuts back in play, we may have seen a bit of a short-term low for our market."

Ten of 11 local sectors traded higher, while energy stocks slipped 0.3 per cent, with oil prices under pressure as peace Russia-Ukraine peace talks edged towards a resolution.

Industrials led the other segments higher, rallying 2.7 per cent in a sector-wide surge with some outsized performances from plumbing supplier Reece and ports and logistics company Qube.

Reece soared for a second session since its quarterly update, with investors betting the bottom is in after its share price tanked from around $25 to about $10 since November 2024.

Qube rocketed almost 19 per cent higher on the back of a $11.6 billion takeover bid from Macquarie Group.

Financials jumped one per cent, as Westpac led the big four banks higher with a 2.3 per cent gain, while CBA shares rose 1.2 per cent to $154.96 as it announced changes to its technology leadership team.

Raw materials stocks gained 1.1 per cent, with a return to form for gold miners and decent lifts for iron ore giants Fortescue (+1.9 per cent) and Rio Tinto (+1.1 per cent).

BHP edged 0.6 per cent higher to $40.62, after it walked away a second attempt to merge with UK-listed copper play Anglo American.

Spot gold is trading at $US4,049 ($A6,265) and has been consolidating in a tight range for the past week.

Elsewhere, IT stocks performed well, lifting 2.4 per cent in a broad-based rebound from recent weakness, with stand-out performances from Iress and Life360, which each gained more than seven per cent.

Real estate plays, utilities and health care stocks each jumped about two per cent.

Imaging software provider Pro Medicus shares increased 3.5 per cent to $260, after announcing at least $29 million in fresh US contracts.

Consumer-facing sectors were less impressive, with discretionaries carving out a 0.7 per cent gain and staples edging 0.4 per cent higher.

In company news, shares in defence technology Droneshield rose 1.8 per cent to $1.75 after it announced an interim US boss, and flagged two independent directors would review recent controversial share sales by CEO Oleg Vornik and two board members.

Bitcoin rebounded from its recent sell-off over the weekend, and is trading around $US87,370 ($A135,180).

"Bitcoin experienced a sharp downturn last week, dropping from its mid-November highs in a broad crypto sell-off that erased all 2025 gains and wiped nearly $800 billion from total market value," eToro market analyst Farhan Badami said.

"A rebound was always likely following such an aggressive flush, and the weekend delivered exactly that."

The Australian dollar is buying 64.63 US cents, up slightly from 64.47 on Friday at 5pm after dipping to August lows over the weekend.

ON THE ASX:

The S&P/ASX200 rose 108.6 points, or 1.29 per cent, to 8,525.1

The broader All Ordinaries gained 114.1 points, or 1.31 per cent, to 8,800.4

The NZX 50 added 80.45 points (0.60%) to 13,499.85 while the Nikkei dropped -1198.06 points (-2.46%) at the time of writing, to be closed at 48,625.88

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