02.03.202606:00:50UTC+00Australian Shares Close at Record High

The S&P/ASX 200 ended Monday’s session virtually unchanged at a record high of 9,201, recovering from earlier losses as investors rotated into gold and energy stocks amid heightened geopolitical risk. Markets were shaken by US and Israeli strikes on Iran over the weekend, after Tehran refused to scale back its nuclear program. Tensions intensified following reports that the attacks may have killed Supreme Leader Ayatollah Ali Khamenei, stoking fears of broader regional retaliation.

Energy stocks advanced sharply, with Woodside Energy up 6.8% and Santos rallying 6.7%. Gold producers also posted strong gains, including Newmont Corporation, which rose 5.7%, Northern Star Resources, up 4.8%, and Evolution Mining, which added 6.6%.

At the same time, investors assessed the latest domestic economic indicators. The Melbourne Institute’s Monthly Inflation Gauge fell 0.2% in February from the previous month, reversing a 0.2% increase in January and marking the first monthly decline since August. Separately, ANZ-Indeed Australian Job Ads climbed 3.2% in January, moderating from a revised 5.2% rise in December.