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Australian shares close above 4-month lows on rebound

Published 21/03/2023, 04:48 pm
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 56.9 points or 0.8% to 6,955.4 during Tuesday's trading session, partially recovering losses of 1.4% in the previous session and closing above 4-month lows as investors proved optimistic following the bailout of several financial institutions over the past two weeks.

Among stocks, Consumer Discretionary and Materials led the gains. Domino's Pizza Enterprises Ltd (ASX:DMP) lifted 5.6%, JB Hi-Fi Ltd (ASX:JBH) added 1.2%, Tabcorp Holdings Ltd (ASX:TAH) gained 1.5% and Aristocrat Leisure Ltd (ASX:ALL) lifted 1.8%.

Meanwhile, Rio Tinto Ltd (ASX:RIO) added 1%, BHP Group Ltd (ASX:BHP) gained 1.3%, Champion Iron Ltd (ASX:CIA) lifted 0.7% and Lake Resources NL (ASX:LKE) added 2%.

Gold miners were mostly positive as Gold tades closer to historic highs, with St Barbara Ltd (ASX:SBM) up 0.8%, Chalice Gold Mines Ltd (ASX:CHN) adding 3.4%, Evolution Mining Ltd (ASX:EVN) up 2.1% and Mineral Resources Ltd (ASX:MIN) lifting 0.5%.

On the bond markets, Australia 10-Year rates were at 3.199%, while Australia 2-Year rates were at 2.946%.

In New Zealand, the NZX 50 lost 0.3% to 11,531.3.

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