What caused the rise in Australian shares on Monday, and which sectors led the gains?

Australian shares rose on Monday due to improved sentiment following U.S. President Donald Trump's remarks on Iran and fresh hopes of reopening the Strait of Hormuz; the gains were led by banks (financials index .AXFJ up 0.4%), healthcare (.AXHJ up ~1%), and gold miners (.AXGD up 0.7%).

Why did energy stocks decline despite the broader market rally?

Energy stocks (.AXEJ) declined 1.2% — their weakest session in a week — in line with falling oil prices, as oil majors Woodside Energy (WDS.AX) and Santos (STO.AX) fell 1.4% and 1.9%, respectively.

Bank, Healthcare Stocks Lead Australian Shares Higher on Iran Peace Progress

Aug 2, 2026

Australian shares rose led by banks and healthcare, while energy stocks fell amid declining oil prices following U.S. President Trump's remarks on reopening the Strait of Hormuz.

reuters

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