ASX 200 jumps most in 2 weeks
Aussie inflation due on Wednesday
Banks, miners rise for 2 straight days
NZX 50 clocks 3 days of decline
(Updates to close)
Australian shares advanced on Monday, with financials and miners leading the charge, while investors keenly awaited a crucial local inflation reading due later in the week, which could cement expectations of further monetary policy tightening.
The S&P/ASX 200 index (xjo) rose 0.9% at 7989.60, its biggest intra-day percentage jump since July 12.
June quarter consumer price data is due on Wednesday, with inflation expected to increase to 3.8% from 3.6% in the prior quarter. There are concerns the Reserve Bank of Australia (RBA) could raise interest rates when it meets on Aug. 6.
A mixed employment report earlier this month and stubbornly high inflation raised expectations of a RBA rate hike as early as August, with markets now pricing in a 21% chance of a hike from 12% two weeks ago.
"The Aus CPI print...could put the 6 August RBA meeting as a truly 'live' event, while a weaker-than-expected outcome could take any chance of a rate hike off the table – much to the relief of the local equity market," Chris Weston, head of research at brokerage Pepperstone said in a note.
Financials .AXFJ rose as much as 1.1% to their highest since July 18. Top lender Commonwealth Bank of Australia (CBA) rallied 1% to a record high, while ANZ Group (ANZ) shed 1%.
Miners .AXMM followed suit to add 0.1% in a two-day rally. BHP Group (BHP) rose 0.05%, while Rio Tinto (RIO) fell 0.07% ahead of its full-year earnings on Wednesday.
News of fresh stimulus from China last week propped up mining stocks, a sector that would benefit most as China is resource-rich Australia's top trading partner.
Real estate stocks .AXRE , healthcare firms .AXHJ , and consumer staples .AXSJ rose between 0.7% and 1.4%.
New Zealand's benchmark S&P/NZX 50 index (nz50) dipped 0.3% in its third-straight session of losses. Construction products maker Fletcher Building (FBU) topped losses while weighing on the benchmark after flagging supply-chain woes.
- Forums
- ASX - By Stock
- BHP
- News: BHP Banks, miners lead Australia shares higher; inflation awaited
News: BHP Banks, miners lead Australia shares higher; inflation awaited
Featured News
Add BHP (ASX) to my watchlist
|
|||||
Last
$42.07 |
Change
-0.030(0.07%) |
Mkt cap ! $213.3B |
Open | High | Low | Value | Volume |
$42.29 | $42.43 | $42.07 | $244.2M | 5.785M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4000 | $42.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$42.08 | 1000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4000 | 42.060 |
4 | 1014 | 42.050 |
1 | 2930 | 42.040 |
3 | 1605 | 42.030 |
1 | 600 | 42.020 |
Price($) | Vol. | No. |
---|---|---|
42.080 | 1000 | 2 |
42.120 | 1000 | 1 |
42.180 | 539 | 2 |
42.190 | 1577 | 1 |
42.230 | 1000 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
Featured News
BHP (ASX) Chart |