Expectations of an imminent interest rate cut in the world’s largest economy and renewed optimism around a possible trade deal between China and the US sparked a fresh rally on the Australian sharemarket on Monday.

The benchmark ASX200 lifted 36.6 points, or 0.41 per cent, to close at 9,055.6 points, while the broader All Ordinaries index added 34.7 points, or 0.37 per cent, to 9,351.9.

The gains were broadbased, with eight of 11 industry sectors ending in the green, led by IT with an 0.89 per cent lift.

Megaport surged 4.25 per cent to $15.96 a share, Xero gained 0.92 per cent to $152.17 and Codan rose 1.23 per cent to $36.30.

Energy stocks tracked rising oil prices to advance 0.84 per cent, with Woodside Energy lifting 1.19 per cent to $24.69 and Santos rising 1.41 per cent to $6.46.

See Full Page