ASX 200 Touches Eight-Week Peak Ahead of RBA Decision; Oil Drops
S&P/ASX 200 finished Monday up 110 points, or 1.25%, to 8,914.00. Australian shares jumped to start the week. The All Ordinaries index added 1.35% to 9,128.00. Reuters reported it was the best finish for the ASX 200 since April 21 after a preliminary US-Iran deal eased concerns about energy flows through the Strait of Hormuz. S&P/ASX 200 can jump or drop hard when banks, miners and energy stocks all move in the same direction, not just during earnings season. S&P Dow Jones Indices labels it Australia’s main investable benchmark. The index covers 200 large ASX stocks weighted by float-adjusted market cap.