23.09.202500:51:45UTC+00Australian Shares Log 3-Session Gains

The S&P/ASX 200 index climbed by 0.4% to 8,849 on Tuesday, registering its third successive day of gains. This upward trend was largely driven by strong performances in the gold and mining sectors. Prominent mining companies contributed significantly to the increase, with Rio Tinto seeing a 1.5% rise and BHP Group increasing by 1.1%. Gold mining firms also bolstered the index, highlighted by Capricorn Metals, which surged by 3.2%, Evolution Mining, which climbed 3.1%, Regis Resources, which gained 2.7%, and Genesis Minerals, which rose by 2.1%. Nevertheless, the broader market's advance was somewhat restrained by weaker Purchasing Managers' Index (PMI) data. Preliminary estimates revealed a decline in the composite PMI to 52.1 in September from 55.5 the month before. Although this represented twelve consecutive months of expansion, it indicated the slowest growth rate within that duration, with both the manufacturing sector (51.6 compared to 53 in August) and the services sector (52 against 55.8) showing signs of slowing. Investors are now focusing on the Monthly Consumer Price Index (CPI) report, scheduled for release on Wednesday.