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Australian shares flat at 8-month highs, miners slip
Published Jan 17, 2023 11:22
© Reuters
By Oliver Gray
Investing.com - The S&P/ASX 200 were trading flat at 7,391.2 after the first 90 minutes of Tuesday’s trade, holding near 8-month highs as reports of increased COVID-19 cases in China dragged on mining companies.
ASX 200 Futures were pointing 0.2% higher.
Among stocks, Materials fell 1.3% collectively as Rio Tinto Ltd (ASX:RIO) lost 1.8%, BHP Group Ltd (ASX:BHP) fell 1.5% and Fortescue Metals Group Ltd (ASX:FMG) lost 2.2%.
Energy dipped 0.5%, with Woodside Energy Ltd (ASX:WDS) down 0.2%, Santos Ltd (ASX:STO) slipping 0.1%, Beach Energy Ltd (ASX:BPT) falling 1.1% and South32 Ltd (ASX:S32) down 2.7%.
Industrials traded flat, with Reece Ltd (ASX:REH) up 0.4% and Atlas Arteria (ASX:ALX) down 0.7%.
Meanwhile, JB Hi-Fi Ltd (ASX:JBH) added 3.4% after reporting a 14% surge in profits for the six months to December 31.
On the data front, Westpac Consumer Sentiment posted its biggest increase since April 2021, lifting 5% in January to 84.3 from 80.3 in the prior month.
Ahead in the session, China is set to release one of its slowest GDP growth rates on record.
On the bond markets, Australia 10-Year rates were at 3.595% while United States 10-Year yields were at 3.516%.
In New Zealand, the NZX 50 added 0.5% to 11,869.1.
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