Australian shares finished April with a solid gain even as investors navigated war in the Middle East, sticky inflation and uncertainty around interest rates. The S&P/ASX 200 rose 2.18% over the month, recovering from a softer finish after a run of late losses, while global equities also bounced strongly, according to the market update from Stockhead and related commentary from Walbrook. The move contrasted with some other April market reviews that showed a weaker domestic backdrop, underscoring how volatile sentiment was during the month.

Technology led the local market’s recovery, climbing more than 13%, while healthcare was hit hard and fell 8.67%. Real estate also firmed, helping seven of the 11 ASX 200 sectors post gains, but defensive names such as consumer staples and utilities remained under pressure. By contrast, Capital Brief and other April market summaries noted that the sector had been weak in several sessions, with big technology names under pressure as investors reassessed the US rate outlook.

Macro conditions remained in focus. Australian inflation surprised to the upside in March, with headline CPI rising 1.1% for the month and 4.6% over the year, according to the Australian Bureau of Statistics. Trimmed mean inflation held at 3.3%, keeping pressure on the Reserve Bank of Australia ahead of its early-May meeting. The Melbourne Institute said the central bank could yet raise rates by another 25 basis points, though it also argued that the full effect of earlier hikes and geopolitical shocks had probably not yet flowed through to the domestic economy.

Commodity and asset markets were similarly unsettled. Crude oil swung sharply as events in the Middle East evolved, falling heavily at one point before ending April higher, while gold was slightly softer over the month. Bitcoin recovered some lost ground with an 11% gain, although it remained down for the year. In fixed income, inflation-linked government bonds delivered modest gains, reflecting a cautious but not uniformly risk-off tone across markets, according to the Stockhead review.

At stock level, Adisyn was the standout, surging 241% after a run of company announcements that included a graphene-related technical breakthrough, an exclusive licensing agreement and a $14m capital raising. Narryer Metals gained 200% after a placement that brought mining investor Tim Goyder onto the register, while Patriot Resources advanced 186% after unveiling a large-scale exploration target at its Tassa project in Peru. At the other end of the table, Scidev and Dateline Resources were among the month’s weakest performers, while several healthcare and lithium names also suffered steep declines.

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Source: Noah Wire Services