WDS 1.47% $27.51 woodside energy group ltd

April 30 (Reuters) - Australian shares edged higher on Tuesday,...

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    April 30 (Reuters) - Australian shares edged higher on Tuesday, supported by miners, while investors await the Federal Reserve's policy meeting due this week to gain a clearer insight on the U.S. central bank's interest rate trajectory.

    The S&P/ASX 200 index (xjo) was up 0.2% at 7648.70 points, as of 0050 GMT. The benchmark ended 0.8% higher on Monday.

    The U.S. Fed is expected to change interest rates at its two-day policy meeting that will start later in the day, although the focus is on the central bank's rate outlook.

    Recent U.S. economic data prompted investors to raise expectations of an interest rate cut only after September.

    In Australia, investors gauged March retail sales that unexpectedly fell 0.2% month-on-month as cautious consumers pulled back spending amid elevated costs of living.

    Australian metals and mining index led gains .AXMM with a nearly 1% jump, with mining giants BHP Group (BHP) and Rio Tinto (RIO) rising 0.9% and 0.1%, respectively, while Fortescue (FMG) was up 1.5%.

    Gold stocks .AXGD advanced 0.2% as greenback-priced bullion rose on a weaker U.S. dollar.

    Energy stocks .AXEJ fell 0.2%, tracking a decline in oil prices as Israel ceasefire talks in Cairo tempered fears of a wider Middle East conflict.

    Sector majors Woodside Energy (WDS) and Santos (STO) fell 0.1% and 0.6%, respectively.

    Shares of Origin Energy (ORG) traded 0.2% lower even after the energy producer reported a 7% sequential increase in third-quarter revenue from its stake in the Australia Pacific LNG (APLNG) project on Tuesday.

    Ampol (ALD) fell as much as 5%, hitting its lowest level since Feb. 14, after the energy provider reported an over 7% fall in quarterly output from its Lytton refinery in Queensland.

    New Zealand's benchmark S&P/NZX 50 index (nz50) was down 0.1% at 11903.90 points.

 
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$27.51
Change
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Last trade - 16.10pm 17/05/2024 (20 minute delay) ?
Last
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