Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Australia shares higher on resources boost; NZ flat

Published 15/02/2018, 05:53 pm
Updated 15/02/2018, 06:00 pm
© Reuters.  Australia shares higher on resources boost; NZ flat

* Aussie shares up 1.2 pct as materials lead

* Jobs up again in Jan, longest run of gains on record

* NZ slightly higher (Updates to close)

Feb 15 (Reuters) - Australian shares rose over 1 percent on Thursday, shrugging off higher than expected U.S. inflation data and boosted by gains in top resources stocks.

The S&P/ASX 200 index .AXJO ended up 1.2 percent, or 67.8 points, to 5,909. The benchmark fell 0.3 percent on Wednesday.

Wall Street surged on Wednesday as investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook (NASDAQ:FB), Amazon.com (NASDAQ:AMZN) and Apple (NASDAQ:AAPL). .N

Among Australian equities, material stocks led the gains, supported by firm commodity prices, with heavyweights BHP Billiton (LON:BLT) Ltd BHP.AX and Rio Tinto (LON:RIO) RIO.AX closing 4.6 percent and 4.1 percent higher, respectively. Both stocks ended higher for a fourth straight session. ore futures in China climbed to their strongest in three weeks, while London copper rose for a fourth day to the highest in 10 days. IRONORE/ MET/L

Sentiment was also supported by data showing the country's streak of employment gains reached the longest on record in January, while unemployment fell a tick and female participation in the workforce climbed to an all-time high. the financial sector, Australia and New Zealand Banking Group Ltd ANZ.AX and National Australia Bank Ltd NAB.AX rose between 1.5 percent and 1.6 percent.

Origin Energy Ltd ORG.AX more than tripled its half-year underlying profit on the back of soaring energy prices, sending its shares up 6.9 percent. energy stocks also gained as prices rose after Saudi Arabia's energy minister said major oil producers would prefer tighter markets to early exits from cuts. shares of South32 Ltd S32.AX slid 5.4 percent to its weakest close since Dec. 29. The slow pace of a previously announced $750 million share buyback, as well as rising costs, weighed on investors' minds, analysts said. Zealand's benchmark S&P/NZX 50 index .NZ50 closed marginally higher, rising 0.06 percent or 4.53 points to settle at 8,063.33.

Losses in material and utility stocks were offset by gains in healthcare and industrial stocks.

Fletcher Building Ltd FBU.NZ lost 1.3 percent and energy generator and retailer Contact Energy Ltd CEN.NZ fell 0.9 percent.

Medical device maker Fisher & Paykel Healthcare Corporation Ltd FPH.NZ ended 0.8 percent higher.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.