April 8 (Reuters) - Australian shares rose on Monday with financial stocks leading gains, likely tracking Wall Street as strong U.S. jobs data suggested a healthy economy even as it indicated a delay in Federal Reserve rate cuts.
The S&P/ASX 200 index (xjo) rose 0.1% to 7,784.30 points by 0048 GMT. The benchmark closed 0.6% lower on Friday.
In the U.S., jobs data showed far more workers were hired in March than expected and wages increased steadily, suggesting a healthy economy even as it indicated delayed Fed rate cuts.
In the local bourse, rate-sensitive financials .AXFJ rose as much as 0.6%, with the "Big Four" banks advancing between 0.4% and 0.7%.
Gold stocks .AXGD gained as much as 2.4%, hitting their highest level since May 5, 2023.
Gold miner Northern Star Resources (NST) rose as much as 1.5%, reaching its highest level since Nov. 17, 2020.
Healthcare stocks .AXHJ rose as much as 0.6% while technology stocks .AXIJ advanced as much as 1.6%.
Bucking the trend, energy stocks .AXEJ fell as much as 1.4%, tracking falling oil prices.
Sector majors Woodside Energy (WDS) and Santos (STO) fell as much as 1.5% and 1.3%, respectively.
Mining stocks .AXMM dropped as much as 0.8%, their lowest level since March 28. Heavy-weight miners Rio Tinto (RIO) , BHP Group (BHP) and Fortescue (FMG) fell between 0.3% and 1.4%.
In company news, Beach Energy (BPT) said it expects the first gas production from its Waitsia Stage 2 gas project in early 2025, instead of mid-2024, due to further quality issues.
The oil and gas explorer fell as much as 21.9% to its lowest since Dec. 14, 2023 and was among the top drags on the benchmark.
New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.2% to 11,988.95 points.
Additionally, investors closely monitored the Reserve Bank of New Zealand for hints on interest rate outlook ahead of its monetary policy review meeting on Wednesday.
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Last
$3.73 |
Change
-0.220(5.57%) |
Mkt cap ! $7.407B |
Open | High | Low | Value | Volume |
$3.90 | $3.90 | $3.73 | $68.66M | 18.17M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 21612 | $3.73 |
Sellers (Offers)
Price($) | Vol. | No. |
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$3.74 | 46587 | 2 |
View Market Depth
No. | Vol. | Price($) |
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3 | 11887 | 3.720 |
6 | 18207 | 3.710 |
13 | 35491 | 3.700 |
3 | 11800 | 3.690 |
5 | 12995 | 3.680 |
Price($) | Vol. | No. |
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3.740 | 6587 | 1 |
3.750 | 10587 | 2 |
3.760 | 21587 | 3 |
3.770 | 7412 | 2 |
3.780 | 20407 | 5 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$3.74 |
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Change
-0.220 ( 5.42 %) |
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Open | High | Low | Volume | ||
$3.89 | $3.89 | $3.73 | 5691901 | ||
Last updated 15.59pm 03/05/2024 ? |
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