ASX 200 hits four-month high
Australian employment data exceeds forecasts
Mining stocks hit four-month high
(Updates to close)
Australian shares rallied for a fifth session on Thursday, buoyed by local miners and banks, while investors embraced the Federal Reserve's dovish stance to keep rates on hold, signalling an end to a historic monetary policy tightening cycle.
The S&P/ASX 200 index (xjo) closed 1.6% higher at 7,375.40, hitting a four-month high earlier in the session. The benchmark ended 0.3% up on Wednesday.
Markets welcomed the Fed's widely-expected policy decision to keep interest rates unchanged on Wednesday, with the central bank flagging potentially lower borrowing costs in 2024.
In Australia, employment data outpaced expectations for a second time in November as businesses hired more full-time employees.
"From an economic health standpoint, today's jobs numbers were net positive for equities - it shows the economy remains in decent shape despite interest rate tightening," said Tim Waterer, chief market analyst at KCM Trade.
Local mining stocks .AXMM hit a four-month high during the session, gaining 2.3% at the close on higher base metal prices.
Heavyweights BHP Group (BHP) , Rio Tinto (RIO) , and Fortescue (FMG) ended higher between 0.4% and 2.8%.
Financials .AXFJ advanced 0.9%, with the 'Big Four' banks gaining between 0.6% and 1.3%.
The real estate sub-index .AXRE climbed 4.2% in broad-based gains through the market.
Sector majors LendLease Group (LLC) and Goodman Group (GMG) rose 5.3% and 3%, respectively.
In company news, Woolworths Group's (WOW) shares ended 0.5% higher after Australia's competition watchdog said it did not oppose the retailing giant's acquisition of a 55% stake in specialty pet retailer Petstock Group.
New Zealand's benchmark S&P/NZX 50 index (nz50) rose 0.7% to 11,552.88 at the close after official data showed gross domestic product (GDP) fell 0.3% in the September-quarter, allaying rate hike fears from the Reserve Bank of New Zealand.
- Forums
- ASX - By Stock
- XMM
- News: XMM Financials, miners lift Australian shares
News: XMM Financials, miners lift Australian shares
Featured News
Add XMM (ASX) to my watchlist
(20min delay)
|
|||||
Last
5,885.1 |
Change
170.100(2.98%) |
Mkt cap ! n/a |
Open | High | Low |
5,715.0 | 5,900.5 | 5,715.0 |
Featured News
XMM (ASX) Chart |