Australian shares have risen close to the 8000-point mark as the earlier sell-off this month continues to unwind, driven by gains in US markets overnight. The S&P/ASX 200 is up 17 points, or 0.2%, at 7997.5, briefly surpassing 8000 points for the first time since the early-month drop. Mining stocks led the charge, buoyed by a rebound in iron ore prices to nearly $US95 per tonne.

Dexus shares fell 6.7% to $6.99 after reporting a $1.58 billion statutory loss for FY24. Yancoal tumbled 21% to $5.45 as directors opted to retain profits for potential acquisitions instead of paying dividends.

In contrast, Reliance Worldwide Corporation surged 9.4% to $5.14 following better-than-expected US results, while Monadelphous rose 10.7% to $13.09 on strong profit growth. Baby Bunting, Ingenia Communities, and KMD Brands also posted solid gains. Ansell’s shares bounced 7.2% despite a profit drop, and Judo Bank climbed 8.7% amid concerns over small businesses facing higher rates.