00:00Carmely, mining stocks have been lagging some of the other sectors we've seen in Australia's market in recent years.
00:05Maybe that turnaround in 2026?
00:07Yeah, I think there's definitely scope for that rally to continue into the next year.
00:12At least that's what I'm hearing from a lot of these analysts and investors I'm talking to.
00:16What's driving that turnaround?
00:18I think it comes down to a couple of things.
00:20The first one being a brighter outlook for global economic growth as a lot of those trade risks that you mentioned sort of start to settle.
00:27And the second thing is more expectations of China's recovery.
00:32So I think all of these things sets up a good picture for Australian miners in the new year.
00:39The trade picture that has emerged this year, how has that affected the stock market leadership?
00:48Yeah, I think it's created a lot of new opportunities for investors within Australia's stock market.
00:56For the first half of the year, it was really the banking sector that benefited from that haven demand and its exposure to Australia's economy.
01:04But as that risk appetite has returned in the second half of the year, we are starting to see a bit more rotation into the cyclical parts of the market, including the miners.
01:14And then the other aspect to consider with the trade war is that it's sort of put renewed attention and focus on a lot of gold miners and rare earths or other opportunities within the sector.
01:25So it's really shaken up the leadership within the stock market here in Australia.
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