The S&P/ASX 200 rose 0.2% to around 8,700 on Wednesday, extending gains from the previous session, as miners and gold stock led the market the higher. The heavyweight mining sector rose 1.7%, with BHP jumping 1.3%, while Rio Tinto added 0.6% after securing $1.18 billion in financing for a lithium project in Argentina. Gold miners also advanced 1.4% amid higher bullion prices, led by Northern Star, up 2.8%. Banking stocks added 0.7%, with the four largest banks gaining between 0.3% to 0.8%. In contrast, technology stocks mostly weighed on the index, tracking Wall Street peers lower. Meanwhile, investors weighed conflicting signals regarding the duration and intensity of the conflict in the Middle East. While President Trump suggested that military operations against Iran are nearing a conclusion, US officials signaled that military activity was escalating and prospects for diplomacy were limited.