RIO rio tinto limited

News: RIO Australian shares rise on tech, financials boost; Link soars over 8%

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    Sept 8 (Reuters) - Australian shares rose on Thursday after a sharp sell-off in the previous session, as technology and financial stocks tracked a rally in U.S. peers, while Link Administration soared after getting a regulatory nod for its buyout.

    The S&P/ASX 200 index (xjo) rose about 0.4% to 6,756 points by 0045 GMT. The benchmark ended 1.4% lower on Wednesday.

    Link Administration (LNK) soared 8.1% after Australia's competition regulator approved Canadian firm Dye & Durham's DND.TO buyout of Link, provided it divests its local businesses.

    Wall Street, meanwhile, rebounded overnight as benchmark 10-year bond yields fell, with investors shrugging off hawkish commentary from some U.S. Federal Reserve officials. The central bank will meet later this month for its policy decision.

    Domestic technology stocks .AXIJ led gains, rising 2.3%, as they tracked peers on the Nasdaq Composite Index .IXIC . Accounting software provider Xero (XRO) and ASX-listed shares of Block Inc (SQ2) jumped 2.3% and 3.6%, respectively.

    Financials .AXFJ followed suit, firming about 0.5%, with the "Big Four" banks climbing 0.3%-1%.

    Miners .AXMM rose about 1.1%, despite weaker iron ore prices, with index heavyweights such as Rio Tinto (RIO) , BHP Group (BHP) and Fortescue Metals (FMG) gaining between 0.7% and 1.8%.

    Energy stocks .AXEJ were the only laggards, sliding about 4.5% to see their worst day in about two months as oil prices slumped. Sector majors Woodside Energy (WDS) and Santos (STO) shed 7.8% and 2.7%, respectively.

    In New Zealand, the benchmark S&P/NZX 50 index (nz50) rose nearly 0.8% to 11,636.2 points.

 
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Last
$113.62
Change
1.260(1.12%)
Mkt cap ! $42.17B
Open High Low Value Volume
$112.70 $113.70 $112.21 $140.8M 1.240M

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No. Vol. Price($)
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Price($) Vol. No.
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