Bullish
ASX 200 rises 0.8% to 8,783 as miners and banks lead gains
The S&P/ASX 200 closed at 8,783 points on October 12, 2026, up 66.6 points or 0.8%. The rally was driven by strong performances in the mining and banking sectors, supported by rising commodity prices and positive expectations for the upcoming US earnings season. However, telecommunications stocks declined due to competitive concerns.
Key points
- Miners and banks led the market rally, with BHP shares surging over 2% to $62.39, adding $7.3 billion to its market value.
- Spot gold climbed above $4,200 an ounce for the third consecutive session, rebounding from a two-month low.
- Telecommunications stocks, including TPG Telecom and Telstra, fell 4.9% and 2.5% respectively, amid fears of direct-to-cell competition from SpaceX.
- The Reserve Bank of Australia is scheduled to release its meeting minutes on October 13 at 11:30 a.m. AEDT, which may provide insights into future monetary policy.
Sources
- ASX posts strong gain despite Telstra drop, banks and miners rally — as it happenedABC News · October 12, 2026
- ASX 200 climbs to 8,780 as miners rally on falling oil pricesNews Minimalist · October 12, 2026
- Evening Wrap: ASX 200 climbs as banks and BHP lead, telcos tank on SpaceX threatMarket Index · October 12, 2026
- S&P/ASX 200 closes higher as miners rally 0.8 percentAd-Hoc News · October 12, 2026
AI-generated from public news sources. Not financial advice.
