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Australian Shares Tick Higher, Energy Leads Gains

Published 02/11/2022, 11:14 am
Updated 02/11/2022, 11:19 am
© Reuters
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By Oliver Gray 

Investing.com - The S&P/ASX 200 added 12.5 points or 0.2% to 6,989.4 after the first 80 minutes of Wednesday’s trade, extending gains of 1.7% and trading at fresh 7-week highs following the RBA’s 25 basis point rate hike yesterday, in-line with expectations, as focus turns toward the U.S. federal Reserve’s interest rate decision on Thursday morning.

ASX 200 Futures were trading flat at 6,975.5.

Among stocks, Energy led the gains, up 1.8% collectively as Woodside Energy Ltd (ASX:WDS) gained 2.5%, Santos Ltd (ASX:STO) added 1.2%, Beach Energy Ltd (ASX:BPT) lifted 1.8% and South32 Ltd (ASX:S32) added 2.2%

Materials lifted 1%, with Rio Tinto Ltd (ASX:RIO) adding 1.8%, BHP Group Ltd (ASX:BHP) gaining 1.1% and Champion Iron Ltd (ASX:CIA) lifting 1%.

Financials added 0.4% with Westpac Banking Corp (ASX:WBC) 0.4%, National Australia Bank Ltd (ASX:NAB) lifting 0.3% and Commonwealth Bank Of Australia (ASX:CBA) up 0.4%.

On the data front, market participants are looking toward upcoming Building Approvals and Home loans data.

On the bond markets, Australia 10-Year rates were at 3.75% while United States 10-Year rates were at 4.048%.

In New Zealand, the NZX 50 fell 0.3% to 11,284.5.

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