July 3 (Reuters) - Australian shares rose on Wednesday, led by gains in miners, while Federal Reserve Chair Jerome Powell struck a moderately dovish tone in his comments, suggesting that the central bank is more than likely to start its easing cycle later this year.
The S&P/ASX 200 index (xjo) was up 0.2% at 7,731.700 points by 0043 GMT. The benchmark fell 0.4% in the previous session.
On Tuesday, Powell said that the U.S. is back on a "disinflationary path", though the Fed needed to see more progress before changing policy.
Following Powell's remarks, more than 61% of market participants expect the central bank to cut interest rates at its September meeting compared to 59.8% a day earlier, according to the CMEFedWatch tool.
Back in Sydney, mining stocks .AXMM inched 0.6% up, aided by a rise in global iron ore prices.
Mining heavyweight BHP Group (BHP) advanced 0.2% while iron ore miner Rio Tinto (RIO) lost 0.2%.
Financials .AXFJ snapped a two-day losing streak to gain as much as 0.5%. The 'Big Four' banks all rose between 0.3% and 0.7%.
Energy stocks .AXEJ gained 0.4% despite a fall in global oil prices, which fell as fears of Hurricane Beryl causing supply disruptions faded away.
The sub-index is on its track for a seventh consecutive session of gains.
Woodside Energy (WDS) gained 0.3%, while smaller peer Santos (STO) added 0.5%.
Healthcare shares .AXHJ traded flat, while IT stocks rose 0.3%, snapping a two-day losing streak as they tracked their U.S. peers higher.
Real estate .AXRE stocks jumped 0.3% on the day. Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index (nz50) rose 0.2% in early trade.
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Last
$111.02 |
Change
0.290(0.26%) |
Mkt cap ! $41.21B |
Open | High | Low | Value | Volume |
$110.31 | $111.67 | $110.06 | $107.5M | 971.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 123 | $111.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$111.03 | 3394 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 123 | 111.000 |
1 | 56 | 110.880 |
1 | 12879 | 110.850 |
1 | 300 | 110.750 |
2 | 202 | 110.440 |
Price($) | Vol. | No. |
---|---|---|
111.030 | 3394 | 2 |
111.120 | 3394 | 1 |
111.210 | 3394 | 1 |
111.220 | 8392 | 1 |
111.290 | 305 | 2 |
Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
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