By Staff reporters Updated May 13, 2025 — 5.02pm
Welcome to your five-minute recap of the trading day.
The numbers The Australian sharemarket gained on Tuesday, following a rally on Wall Street after China and the United States announced a 90-day truce in their trade war and agreed to temporarily reduce tariffs on each other’s goods.
The S&P/ASX 200 finished up 35.5 points, or 0.4 per cent, at 8269, the highest level since late February. Seven of the 11 industry sectors advanced, led by tech stocks, miners, retailers, and energy stocks, while more defensive sectors such as utilities and consumer staples declined.
US stocks soared on the news of a 90-day truce in the trade war, setting the tone for the Australian market. Credit: Bloomberg
The Australian dollar, which fell below US63.70¢ this morning, bounced back above US64¢ in the afternoon as the US dollar softened amid caution that the trade war has been paused, not resolved.
The lifters Loading
Australia’s iron ore heavyweights advanced after prices for the metal jumped 3.2 per cent to $US100 a tonne overnight as the Trump administration dramatically slashed its crippling tariffs on imports from China for the duration of the truce, limiting the immediate damage on Australia’s biggest export market. BHP shares
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