16.09.202501:01:10UTC+00Australian Shares Track Wall Street Higher, Materials Boost

The ASX 200 experienced an uptick of 0.3%, reaching 8,877 on Tuesday, as it rebounded from the previous trading session. This positive movement was largely influenced by robust market performances observed on Wall Street. Investors were optimistic due to encouraging developments in US-China trade discussions, following President Trump's indications of favorable progress. Notably, the materials sector propelled the index's rise, with leading miners such as BHP climbing 1.2%, Rio Tinto increasing by 1.6%, and Fortescue rising 2%. Additionally, lithium producers showcased strong performances, with Liontown Resources increasing by 3.2% and Pilbara Minerals up by 2.1%. The uranium sector saw remarkable gains, driven by the announcement of an impending US-UK agreement to expedite nuclear power station approvals. Among the gainers, Bannerman Energy soared 14.9%, Lotus Resources advanced 11.4%, and Deep Yellow rose 9.7%. Conversely, Super Retail Group faced a decline of 2.6% following the sudden resignation of its CEO.