By Oliver Gray
Investing.com - The S&P/ASX 200 added 10.7 points or 0.2% to 7,246.7 after the first 45 minutes of trade, posting fresh 4-week highs and lifting for the 7th consecutive session as investors proved optimistic on consumer staples and health care following the RBA's pause in interest rate rises yesterday.
Among stocks, Consumer Staples lifted 0.9% overall as Woolworths Ltd (ASX:WOW) added 1%, Graincorp Ltd (ASX:GNC) gained 0.3%, Coles Group Ltd (ASX:COL) added 0.9% and Endeavour Group Ltd (ASX:EDV) gained 1.6%.
Health Care lifted 1.3% collectively as CSL Ltd (ASX:CSL) gained 1.5%, Fisher & Paykel Healthcare Ltd (ASX:FPH) added 1.3% and Clinuvel Pharmaceuticals Ltd (ASX:CUV) rallied 1.8%.
Meanwhile, Magellan Financial Group Ltd (ASX:MFG) shed 7.2% after reporting a further loss of A$3.4 billion in institutional mandates through the month of March.
Viva Energy Group Ltd (ASX:VEA) also popped 4.6% per after acquiring the OTR Group for A$1.15 billion.
Gold miners rallied 3.3% overall as spot prices touched 13-month highs. Gold Road Resources Ltd (ASX:GOR) gained 4%, Newcrest Mining Ltd (ASX:NCM) added 2.9%, Perseus Mining Ltd (ASX:PRU) lifted 3.2% and Evolution Mining Ltd (ASX:EVN) gained 3.1%.
On the data front, the Ai Group manufacturing index came in at -5.8 versus -8 expected, while Australia's Markit Services PMI came in at 48.6 versus 48.2 expected, slowing from the previous month's reading of 50.7. Aheadin the session, market participants will be closely monitoring a speech from RBA Governor Lowe.
On the bond markets, Australia 10-Year rates were at 3.229%.
In New Zealand, the NZX 50 added 0.3% to 11,928.4.