Australia’s Stock Benchmark Surges to a Record High
- BHP Group, Rio Tinto climb on broader rally in metals
- Australian dollar trading near strongest level since February
Photographer: William West/AFP/Getty Images
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Australia’s stock market is on a tear, with surging commodity prices and a v-shaped economic rebound from the pandemic pushing the nation’s benchmark index to a record high.
Mining giants BHP Group and Rio Tinto Ltd. traded at all-time highs on Monday as global demand fuels surging metals prices while the country’s biggest banks advanced amid rising earnings. With Australia largely containing the coronavirus and policy makers vowing to maintain monetary and fiscal stimulus, sentiment is buoyant among business and investors.