{
  "id": 2960367,
  "title": "Australian shares edge higher on mining boost; Ampol jumps",
  "url": "https://urgent.news/2026/08/24/australian-shares-edge-higher-on-mining-boost-ampol-jumps",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T06:30:24.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436289/australian-shares-edge-higher-on-mining-boost-ampol-jumps"
  },
  "original_language": "en",
  "account": "Australian shares experienced a slight gain on Monday, with gains in mining stocks offsetting declines in financials, as investors awaited upcoming earnings reports and inflation data. The S&P/ASX 200 index climbed 0.2% to 9,078.90 by 0047 GMT, after falling by 0.3% on Friday. Mining stocks soared, with some surging as high as 2.9% to hit a record high, continuing a three-day winning streak fueled by robust copper prices. Copper prices climbed on Friday due to a weaker dollar and China's promise of fiscal measures to stimulate economic growth. BHP Group and Rio Tinto increased by 3% and 2%, respectively. Gold stocks also rose up to 1.5% to their highest level in five months, buoyed by strong bullion prices. Northern Star Resources and Evolution Mining, gold miners, gained around 0.3% each. Energy stocks edged up 0.1%, led by a nearly 3.9% rise in Ampol following the fuel retailer's interim profit surge. However, oil prices fell, causing Santos and Woodside Energy to drop by 2.4% and 0.8%, respectively. Financials declined 1.1%, with major banks among the \"Big Four\" experiencing losses between 0.5% and 1.7%. This downward trend preceded the release of the July inflation report due on Wednesday. Financials experienced a 0.9% decrease last week, marking their third consecutive weekly decline as several banks, such as Commonwealth Bank of Australia, reported a drop in mortgage applications following tax concession changes for property investors in the May budget. Endeavour Group, however, saw a sharp fall of up to 6.2%, reaching a two-month low, after reporting a significant decline in annual statutory net profit after tax. The New Zealand benchmark S&P/NZX 50 index also gained 0.1% to 13,981.74.",
  "summary": "Australian shares inched higher on Monday, as gains in miners outweighed losses in financials, while investors awaited more earnings and inflation data this week. The S&P/ASX 200 index was up 0.2% at 9,078.90 by 0047 GMT, after closing 0.3% lower on Friday. Miners jumped as much as 2.9% to a record high, extending gains to a third straight session on strong copper prices. Copper prices rose on…",
  "key_points": [
    "Australian shares rise 0.2%, mining stocks lead gains",
    "Ampol jumps 3.9% on interim profit surge",
    "Financials decline 1.1% ahead of inflation data"
  ],
  "editors_take": "The boost in mining stocks, driven by strong copper prices and China’s economic stimulus promise, helps offset declines in financials, shifting market focus ahead of earnings reports and inflation data.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}