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UBS tips ASX to rally in 2026 on a mining resurgence

Australian shares are set for a stronger year in 2026, according to investment bank UBS which is tipping a resurgence in the mining sector and steadier profit margins to break the market out of its recent rut.

Equity strategist Richard Schellbach said he expected the S&P/ASX 200 Index to climb to 8900 by the end of the next calendar year, up nearly 6 per cent from current levels but 2 per cent below its record high of 9094 points hit in late October.

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is a markets reporter at The Australian Financial Review in the Sydney newsroom. Previously he worked at The Australian covering business and financial markets. Email Matt at matt.bell@afr.com
is The Australian Financial Review’s investment banking reporter. She covers the people, trends, companies, and transactions moving Australian investment banking and capital markets in the Sydney newsroom. Prior to that, she was a markets reporter writing about hedge funds and the asset management industry. Email Joanne at jo.tran@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/ubs-tips-asx-to-really-in-2026-on-a-mining-resurgence-20251124-p5ni0f