Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Australian Shares Finish the Week 3.3% Higher

Published 18/03/2022, 04:38 pm
Updated 18/03/2022, 04:44 pm
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - Australian shares added 43.6 points or 0.6% to 7294.4 during Friday’s trade, gaining for the third consecutive session and finishing the week 3.3% higher as rising commodity prices boosted Materials and Energy companies alike.

Higher Iron ore prices lifted heavyweight miners, as Rio Tinto Ltd (ASX:RIO) added 1.61%, BHP Billiton Ltd (ASX:BHP) gained 1.25%, Fortescue Metals Group Ltd (ASX:FMG) 2.2%, Champion Iron Ltd (ASX:CIA) lifted 4.06%, Pilbara Minerals Ltd (ASX:PLS) added 3.7%, Arizona Lithium Ltd (ASX:AZL) surged 14.81%, Lake Resources NL (ASX:LKE) added 9.54%, Magnis Resources Ltd (ASX:MNS) gained 9.2%, Avz Minerals Ltd (ASX:AVZ) increased 8.28% and Piedmont Lithium Ltd (ASX:PLL) gained 2.15%.

Gold miners finished higher even though prices of the precious metal dipped 0.41%. Gold Road Resources Ltd (ASX:GOR) 2.16%, St Barbara Ltd (ASX:SBM) added 0.33%, Northern Star Resources Ltd (ASX:NST) lifted 1.43%, Perseus Mining Ltd (ASX:PRU) gained 3.19%, Chalice Gold Mines Ltd (ASX:CHN) added 1.27% while Newcrest Mining Ltd (ASX:NCM) fell 0.76%.

Oil related companies also lifted as Crude prices gained. Woodside Petroleum Ltd (ASX:WPL) 2.68%, Santos Ltd (ASX:STO) added 1.89%, Beach Energy Ltd (ASX:BPT) gained 1.62% and Viva Energy Group Ltd (ASX:VEA) lifted 1.72%.

Financials added around 0.43% collectively with Macquarie Group Ltd (ASX:MQG) up 1.67%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) adding 0.18%, National Australia Bank Ltd (ASX:NAB) lifting 0.22%, Westpac Banking Corp (ASX:WBC) easing 0.08% and Commonwealth Bank Of Australia (ASX:CBA) up 0.13%.

On the bond markets, Australia 10-Year rates were at 2.571%, while United States 10-Year yields were around 2.178%.

In New Zealand, the NZX 50 added 1.47% to 12,176.

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.