Banks, healthcare shares lead Australia's shares higher

(Updates to close) * ASX 200 ends on a month high * Critical Mineral Miners are rising on potential US defense financing * CPI data owed by Sneha Kumar April 28 (Reuters) -Australian shares rose for the third consecutive session on Monday, driven by profits in the financial and health care. The S&P/ASX 200 benchmark closed 0.4% higher at 7,9971 points, the highest level since the end of March. The measure rose almost 2% last week. The first -quarter inflation figures, which are due on Wednesday, are expected to fall marginally and build the case for an interest rate that will be reduced from the Reserve Bank of Australia (RBA) next month. If the consensus call for quarterly nuclear consumer price index (CPI) is realized, RBA is likely to lower the rates on May 20, says Chris Weston, head of research on the Peppper Stone trading platform. Bank supplies have progressed 0.3%, with three of the “large four” banks rising between 0.8%and 1.7%. The country’s largest lender, Commonwealth Bank of Australia, fell 1.1%and further away from the record height touched last week. Healthcare supplies added 0.9%, with the most expensive CSL climb to 1% to a peak of more than two weeks. Mining fell 0.8%, while iron ore futures cut the fear of top consumer China’s steel production. Mining Giants BHP fell 1.1%and Fortescue fell 0.3%, while Rio Tinto achieved 0.1%. Meanwhile, Australian critical mineral miners such as Lynas Rare Earths, Delta Lithium and Sayona Mining have risen between 2.9% and 5.3% after the news of significant financing from a potential US defense package of $ 150 billion. Golden miners also withdrew after a drop in bullying prices, as it alleviated the tensions of the US China that had the demand for safe Haven assets. Under corporate news, shares of James Hardie rose 1.2%. The Australian Securities Exchange said they would review the approval requirements for shareholders for large corporate buyouts through listed companies after investors questioned James Hardie Hardie’s $ 8.75 billion agreement for US builder Azek. New Zealand’s benchmark S&P/NZX 50 index finished 0.7% higher at 12,098,89 points. (Reporting by Sneha Kumar in Bengaluru; Editing by Eileen Soreng) first published: 28 Apr 2025, 12:24 pm Ist