AXJO on three-day winning streak
Financials at about 2-year high
CBA at record closing high
(Updates to close)
Australian shares extended gains on Tuesday, driven by miners and financial stocks, as a survey showed that business confidence in the country improved last month, while technology stocks continued to track a Wall Street rally.
The S&P/ASX 200 index (xjo) jumped 0.5% to 7,514.90 points, its highest closing level in two weeks, and marked its third straight daily rise.
The S&P 500 ended at its all-time closing high for a second straight session, as technology firms added to recent gains.
Locally, a survey from National Australia Bank (NAB) showed its measure of business confidence rebounded 7 points to -1 last month.
"Gains today came courtesy of supportive tailwinds from Wall Street and as the NAB Business confidence index improved in December from the prior month," said Tony Sycamore, a market analyst at IG Australia.
Heavyweight financials .AXFJ rose 0.8%, ending at their highest level since late-April 2022, and recording their fourth straight daily gain.
The 'big four' banks firmed between 0.5% and 1%, while top lender Commonwealth Bank of Australia (CBA) ended at its record closing high.
Miners .AXMM climbed 0.6% in their best day in two weeks, following a rise in iron ore prices after top steel producer China pledged to support market confidence.
Sector giants BHP (BHP) and Fortescue (FMG) rose 1% and 0.8%, respectively.
Information technology stocks .AXIJ also extended their rally, rising 0.6% on a positive lead from their Wall Street peers .IXIC .
Index major Wisetech Global (WTC) rose 2.7%, having hit its highest level since August during the session, before paring gains.
Healthcare companies .AXHJ climbed 1%, rising for a third consecutive day to end at a seven-month high, with Healius (HLS) and Ramsay Health Care (RHC) gaining 2.6% and 1.2%.
Bucking the trend, gold stocks .AXGD lost 0.7%, with Northern Star Resources (NST) and Evolution Mining (EVN) dropping 2% and 2.2%, respectively.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index (nz50) finished about 1% higher at 11,802.88 points.
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News: XIJ Australian shares on three-day winning streak; banks, miners lead
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