S&P/ASX200 finishes up, after mid-week declines
Last updated at 4:40pm AEST
The S&P/ASX200 finished the day up 45.50 points or 0.66%, to be sitting at 6,894.20, and crossing above its 50-day moving average.
The All Ordinaries also finished up, increasing 0.76% for the day.
Miners led the major gains for the day, with the Materials Sector, gaining 3.26%, and 5.11% for the past five days.
29Metals (29M) shares rose more than 11%, finishing the day at AU$2.02, amid upbeat forecasts for copper demand.
Meanwhile, analytics and intelligence software company Nuix (NXL) saw its shares surge more than 25% in morning trading on buyout rumours, but stocks fell back after the company said none were forthcoming.
ASX continues gains, led by miners
Last updated at 12:30pm AEST
The S&P/ASX200 gained in afternoon trading – increasing 28.00 points or 0.41% to 6,876.70.
Australian share trading is following US market movements, which saw Wall Street lock in gains overnight, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 increasing by 0.61%, 0.66%, and 0.5%, respectively.
Across the local market, Materials was the best performing Sector, gaining more than 2% and 4% for the past five days.
29Metals (29M) shares rose more than 7% to about $AU1.94 in afternoon trading, amid upbeat forecasts for copper demand.
Global Lithium Resources (GL1) was a top gainer, increasing more than 10%, as it continues to benefit from strong global lithium demand.
ASX nudges up on yesterday’s gains
Last updated at 10:40am AEST
The S&P/ASX200 nudged up 0.08% shortly after market open, rising 5.20 points to 6,853.90. The All Ordinaries was up 0.22%.
The Metals and Mining, and Materials Sector led the gains, up around 2% and 1.74% respectively.
Australian gold miners continue to be impacted by the fluctuating gold price, which has been pushed down this year, as interest rates rise.
The price of the precious metal was up slightly this morning.
The lift flowed on to Australian gold mining stocks, such as Newcrest Mining Limited (NCM) and Northern Star Resources Limited (NST). They were both up in morning trading.
Pre-market breakdown
Australian shares are set to open higher this morning, with ASX futures up 0.04% to 6,847.5 approaching 7am AEST.
Global markets paid their respects following Queen Elizabeth II’s death, with the New York Stock Exchange observing a minute’s silence overnight.
Wall Street street recorded gains overnight, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 increasing by 0.61%, 0.66%, and 0.5%, respectively.
The gains occurred despite the head of the Federal Reserve indicating it would not be slowing down rate hikes anytime in the near future, as it works to bring down inflation, like the Central Bank in Australia.
The local Australian market closed up sharply yesterday, with the S&P/ASX200 gaining 1.77% to 6,848.70, while the All Ordinaries were up 1.81%.
The Australian dollar was near US67.49c at the local close.
The spot gold price was sitting at $US1,708.41 an ounce just before 7am AEST.
Bitcoin (BTC-USD) was up slightly, to 0.24%, sitting around $19,354.86.
