ASX higher in early trade; NAB chief sends warning
The Australian stock market rose on Monday, driven by record-high performances in the mining sector, particularly BHP. Meanwhile, investors are closely watching geopolitical tensions in the Middle East and potential US sanctions on Iran.
Why it matters
Market shifts toward resource-heavy assets reflect broader global economic concerns and a rotation away from traditional banking stocks.
— 5:35pm , first published August 24, 2026 — 5:21am
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Share A A A Australia’s share market has started the new week higher, as BHP and the materials sector hit record highs, while banks and insurers sold off.
The S&P/ASX200 gained 44.2 points on Monday, up 0.49 per cent, to 9103.1, as the broader All Ordinaries rose 47 points, or 0.5 per cent, to 9316.7.
Markets are waiting for a breakthrough in the Middle East. AP Money continued to rotate from banking stocks into miners as local economic concerns combined with rising commodity prices and outsized resource sector earnings.
BHP shares soared three per cent to hit an all-time high of $67.72, helping the resources sector reach its own fresh peak.
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