Australian Shares Rise; Mineral Resources Completes Major Onslow Iron Road Upgrade in Western Australia

Published on 09/29/2025 at 02:37 am EDT
(MT Newswires) -- Australian shares closed higher on Monday, amid slightly higher-than-expected US personal spending data, which lowered the bets of interest rate cuts this year.
The S&P/ASX 200 rose 0.85% or 71.1 points to close at 8,862.8.
Consumer spending in the US rose 0.6% in August, after economists expected a 0.5% increase in spending, Reuters reported.
"There is no support in this report for suggestions that policy interest rates have to be cut right away, and by a lot," said Carl Weinberg, chief economist at High Frequency Economics.
"There is no recommendation in these numbers for any easing of monetary conditions at all," Weinberg added.
On the domestic front, figures from the Commonwealth Bank of Australia showed that 11% of eligible home loan customers reduced their direct debit repayments following CBA's August variable rate reduction, slightly above the proportions seen after February and May cuts, according to a statement from the bank.
In company news, Mineral Resources has successfully finished key upgrades to its Onslow Iron private haul road in Western Australia's Pilbara region, improving pavement strength and moisture resistance. Shares of the company fell nearly 1% at market close.
Shares of WiseTech Global fell over 1% at market close after it said in a Sept. 26 Australian bourse filing that Executive Chair Richard White sold 709,800 shares in the company at an average price of AU$95.82 per share through an on-market transaction.
Lastly, Corporate Travel Management was downgraded to "neutral" from "buy" by Citi, and the price target was raised to AU$16.10 per share from AU$15.65 per share, the Australian Financial Review reported.

Sumber : Reuters