Australian equities added 18 points or 0.2% to 8,778 in Monday morning trade, extending prior-session gains as U.S. futures strengthened after Washington and Tehran agreed to halt hostilities ahead of peace talks this week over the Strait of Hormuz and other issues to end the war. In China, Australia's largest trading partner, industrial profits surged 18.8% yoy in January–May, underscoring the AI-driven investment boom and policy support for advanced industries. However, caution lingered ahead of Chinese PMI data later this week and the Reserve Bank’s June meeting minutes, with investors wary of a hawkish stance following strong May employment figures. Sector gains were led by commercial services, consumer services, and healthcare, partly offset by weakness in transport and utilities. Notable movers included REA Group (2.3%), Evolution Mining (1.9%), and Aristocrat Leisure (1.7%), while two of the four major banks posted modest rises.