By Oliver Gray
Investing.com - Australian shares ASX 200 added just 1.70 points to 7,415.40 during Thursday’s session, extending gains of 0.53% yesterday and trading near 5-week highs as market participants weighed better than expected earnings overnight on Wall Street and local quarterly updates against a surge in long term bond yields and a stronger Australian Dollar.
In coronavirus news, Victoria tallied 2232 local cases as Prime Minister Scott Morrison that Victoria has reached its 70% double-dose vaccination target, while the ACT added 28 cases and New South Wales added 372 fresh cases. Queensland also reported a single case.
Among stocks, Bluescope Steel Ltd (ASX:BSL) added 0.84% after raising its first-half earnings guidance. Other major miners closed lower, with Rio Tinto Ltd (ASX:RIO) down 1.27%, BHP Billiton Ltd (ASX:BHP) losing 0.21% and Fortescue Metals Group Ltd (ASX:FMG) down 0.59%. Woodside Petroleum Ltd (ASX:WPL) fell 2.32% following improved third-quarter sales amid higher natural gas prices and lower production. Meantime, Beach Energy Ltd (ASX:BPT) lost 0.35%, Santos Ltd (ASX:STO) dipped 1.1% and Oil Search Ltd (ASX:OSH) lost1.34%.
On the bond markets, Australia 10-Year rates were near fresh 6-month highs of 1.798% while United States 10-Year yields were at 5-month highs of 1.652%.
In New Zealand, the NZX 50 closed up 11.74 points or 0.09% to 13125.98.