The S&P/ASX 200 rose 0.2% to close at 8,895 on Monday, rebounding from earlier losses that had pushed the benchmark to a more than one-month low, supported by notable performances in heavyweight financial stocks. Westpac Banking Corporation climbed 2.8% to hover near a record high, despite reporting a decline in annual profit and announcing the sale of its RAMS mortgage portfolio. Among its peers, Commonwealth Bank of Australia advanced 2.3%, while National Australia Bank and ANZ Group Holdings each added 0.9%. On the economic front, data painted a mixed picture ahead of the central bank’s monetary policy decision on Tuesday. ANZ-Indeed Job Ads fell by 2.2% month-on-month in October, pointing to a continued cooling of the labor market and making a potential case for future rate cuts. Meanwhile, Australia’s Monthly Inflation Gauge, compiled by the Melbourne Institute, rose by 0.3% month-on-month, supporting the view that inflation is rising and that a rate cut would be premature.
