Australian shares climb as investors gear up for miners' production reports

Business Recorder reported that Australian equities advanced on Monday, with the S&P/ASX 200 gaining 0.3% to reach 8,739.80 points at 2318 GMT. Strength in mining and technology shares lifted the benchmark, which at one point touched its highest level since October 1. The index had added 0.4% over the previous week.

Heavyweight miners rose by more than 2%, helped by higher copper prices, and BHP climbed 2.5% while Rio Tinto and Fortescue each added 1%. Gold shares advanced 1.4% as bullion surged, and WiseTech Global and Xero both rose above 3.5%. Energy stocks were the exception, dropping 0.5% as Santos and Woodside Energy each lost 1%.

Investors are watching a run of quarterly production updates, with Rio Tinto reporting on Wednesday and BHP and South32 scheduled for next week. The Reserve Bank of Australia will also publish minutes from its September meeting on Tuesday, which could shed light on how policymakers view the economy as oil prices climb and global bond markets sell off.