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ASX up 0.34%: Consumer Discretionary is best perfomer

Australian stocks are experiencing an upswing this Monday, buoyed by the same positive sentiment that propelled Wall Street to a new record last Friday, leveraging the momentum from Nvidia’s historic rally.

At 11:30am, the S&P/ASX 200 is 0.34 per cent higher at 7,669.40.

The SPI futures are pointing to a rise of 35 points.

Best and worst performers

The best-performing sector is Consumer Discretionary, up 0.98 per cent. The worst-performing sector is Energy, down 1.82 per cent.

The best-performing large cap is Pilbara Minerals (ASX:PLS), trading 4.5 per cent higher at $3.835. It is followed by shares in Suncorp Group (ASX:SUN) and Lynas Rare Earths (ASX:LYC).

The worst-performing large cap is TPG Telecom (ASX:TPG), trading 8.4 per cent lower at $4.91. It is followed by shares in Santos (ASX:STO) and Endeavour Group (ASX:EDV).

Commodities and the dollar

Gold is trading at US$2043.10 an ounce.

Iron ore is 0.4 per cent higher at US$121.10 a tonne.

Iron ore futures are pointing to a 0.9 per cent fall.

One Australian dollar is buying 65.60 US cents.