ASX 200 Closes at Two-Week High, Miners Gain While Energy Falls on Oil Drop
Australian shares ended Monday at their highest in two weeks after miners and gold stocks outperformed. The S&P/ASX 200 rose 35 points, or 0.4%, to 8,692, up for a third session. Oil fell as some traders bet on progress in U.S.-Iran talks, helping cool fears of a new inflation bump. Australia’s market is reacting to oil, inflation and interest-rate worries. Oil’s drop eased concerns about high fuel costs keeping inflation up, but local energy producers took a hit from the lower price.