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Australian Shares Close at 10-Week Highs

Published 16/08/2022, 05:07 pm
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 41.1 points or 0.6% to 7,105.4 on Tuesday, extending of 0.5% in the previous session and finishing at 10-week highs as risk sentiment was buoyed amid strong results from local companies.

Among stocks, gains were led from the Materials sector, up 1.7% as BHP Group Ltd (ASX:BHP) gained 4.1% after posting a record dividend. Rio Tinto Ltd (ASX:RIO) lifted 0.7%, Fortescue Metals Group Ltd (ASX:FMG) added 1.6% while Champion Iron Ltd (ASX:CIA) dipped 2.4%.

Shares in Challenger Ltd (ASX:CGF) shed 10.1% as the company posted a drop in statutory profits amid declining financial markets.

Temple & Webster Group Ltd (ASX:TPW) popped 29.8% after solid earnings.

Real estate stocks dipped 1.2% collectively, with Charter Hall Group (ASX:CHC) down 1.8%, Goodman Group (ASX:GMG) falling 0.5%, Stockland Corporation Ltd (ASX:SGP) dipping 1.6% and Scentre Group Ltd (ASX:SCG) falling 2.1%.

On the bond markets, Australia 10-Year rates were at 3.249% while United States 10-Year yields were at 2.781%.

In New Zealand, the NZX 50 was up 0.5% to 11,847.2.

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