SYDNEY, Jan 14, 2026, 21:52 AEDT — Market closed
- ASX 200 climbed 0.14% to 8,820.6, marking its strongest finish since Nov. 10
- Energy and mining stocks climbed, boosted by steady oil and copper hitting record highs
- Big banks dropped amid concerns over rising interest rates
Australian shares ticked up on Wednesday, with the S&P/ASX 200 closing 12.1 points, or 0.14%, higher at 8,820.6. The All Ordinaries also nudged up, gaining 13.3 points, or 0.15%, to finish at 9,151.8.
Miners and energy stocks pushed the market higher, but major banks weighed it down. The mining sector index gained 0.9%, with energy climbing 2.3%. Financials dropped 0.7%, while Commonwealth Bank of Australia dipped 1.3%. Craig Sidney, senior investment adviser at Shaw and Partners, noted that bank selling has persisted amid expectations of tighter policy, with investors shifting funds into companies like BHP and Rio Tinto.
Oil carried much of the weight for energy stocks after prices jumped over 2% the previous day amid concerns over possible Iranian supply disruptions. Brent closed at $65.47 a barrel, while U.S. West Texas Intermediate ended at $61.15, according to Reuters, providing support for Woodside Energy and Santos shares.
Copper’s resilience pushed the resources sector higher. On Wednesday, copper futures hit new record highs near $6.10 a pound amid ongoing supply concerns, according to Trading Economics data. This boosted appetite for major miners and metal-related stocks.
Gold miners got a boost after bullion surged to a record high, driven by growing bets on U.S. rate cuts. Spot gold climbed to $4,639.42 an ounce, while silver broke past $90, pushing gains onto the local producers’ market.
Rate jitters persist. The Reserve Bank of Australia’s cash rate target remains at 3.60%, with the next decision set for Feb. 3. Investors are still fixated on interest-rate moves and inflation figures when weighing banks against other sectors.
China-related factors lingered over iron ore stocks. Reuters reported that December iron ore imports reached a record 119.65 million metric tons. Analysts, however, pointed to soft domestic steel demand and warned that growing supply in 2026 could pressure prices.
Neuren Pharmaceuticals jumped roughly 6% after its partner released slides projecting DAYBUE global net sales to hit about $700 million by 2028. The data also showed over 2,000 Rett syndrome patients treated since the drug’s U.S. launch. The company highlighted plans for a U.S. rollout of a DAYBUE “STIX” formulation starting in Q1. ASX Announcements
The day’s gain was slim. Banks dragged the market down, so commodities had to carry the load—leaving everything vulnerable if oil and metals lose momentum.
Overnight, U.S. stocks slipped as earnings season got underway, shaking investor sentiment amid fresh inflation figures and shifting rate forecasts.
Thursday’s risk is clear-cut: crude prices slipping on new supply news, or copper and gold retreating after recent gains, could quickly erode support for the ASX 200. Meanwhile, any hawkish tweak in RBA pricing would weigh heavily on bank shares, which already trade at elevated valuations.
Traders are set to focus on China’s Q4 GDP data, dropping Jan. 18, and Australia’s December jobs report, due Jan. 22, for clues on growth and interest rates.
