ASX Preview: Australian Shares Set to Rise on Gold Surge; Fortescue Secures Shareholder Approval to Fully Acquire Alta Copper

MT Newswires Live
Jan 27

Australian shares are poised to rise on Tuesday, tracking a global surge in precious metals as gold hit a record $5,100 an ounce, lifting mining stocks amid strong safe-haven demand and persistent market volatility.

On Monday, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.5%, 0.4%, and 0.6%, respectively.

In the macroeconomy, investors are eyeing the release of the National Australia Bank's business confidence report.

In corporate news, Fortescue (ASX:FMG) received shareholder approval to acquire all remaining common shares of Alta Copper, moving the company closer to full ownership of Alta Copper's exploration assets.

DroneShield (ASX:DRO) reported revenue of AU$51.3 million for the fourth quarter ended Dec. 31, 2025, up from AU$26.4 million in the quarter ended Dec. 31, 2024.

Commonwealth Bank of Australia (ASX:CBA) and BHP Group (ASX:BHP) are in focus, with BHP's market capitalization closing in on that of CBA.

Australia's benchmark index rose 0.1% or 11.4 points to close at 8,860.10 on Jan. 23.

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