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🚨 NDVA surged 43%. This AI Chipmaker Could Be Next See Analysis

Australian shares finish 1% higher, energy lifts

Stock Markets
Published Mar 28, 2023 16:31
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By Oliver Gray

Investing.com - The S&P/ASX 200 added 72.1 points or 1% to 7034.1 during Tuesday's trade, extending smaller gains of 0.1% in the previous session and trading near 2-week highs, with energy and materials leading the gains amid easing fears of a financial meltdown, with global banking stocks lifting overnight.

Among stocks, Energy lifted 4.1% with Woodside Energy Ltd (ASX:WDS) added 4.8%, Santos Ltd (ASX:STO) up 3.1%, Beach Energy Ltd (ASX:BPT) gaining 7.8% and Viva Energy Group Ltd (ASX:VEA) up 2.7%.

Materials added 2.2% overall with Rio Tinto Ltd (ASX:RIO) up 0.6%, BHP Group Ltd (ASX:BHP) adding 2%, Fortescue Metals Group Ltd (ASX:FMG) up 1.2% and Champion Iron Ltd (ASX:CIA) gaining 0.8%.

Liontown Resources Ltd (ASX:LTR) shares jumped 67.5% after the company rejected a takeover bid from US commodities giant Albemarle Corp (NYSE:ALB).

Financials partially retraced 5-month lows, with Commonwealth Bank Of Australia (ASX:CBA) up 1%, Macquarie Group Ltd (ASX:MQG) adding 2%, ANZ Group Holdings Ltd (ASX:ANZ) lifting 0.9% and Westpac Banking Corp (ASX:WBC) up 1.4%.

On the data front, retail sales came in at 0.2% for February, easing from last month's reading of 1.8%.

On the bond markets, Australia 10-Year rates were at 3.304%.

In New Zealand, the NZX 50 added 1.4% to 11,771.3.

Be sure to check out Jesse Cohen's upcoming webinar if you would like to improve your trading strategies in these times of increased volatility:
Webinar

Australian shares finish 1% higher, energy lifts
 
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