🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Commodity-linked shares push up Australia benchmark; NZ higher too

Published 27/06/2019, 05:06 pm
Commodity-linked shares push up Australia benchmark; NZ higher too
AUD/USD
-
AXJO
-
BHP
-
CSL
-
CBA
-
RIO
-
CMW
-
RIO
-
SGP
-
HG
-
CQR
-
AXMM
-
AXEJ
-
AXFJ
-
NZ50
-
AIA
-
GNE
-

* Miners, energy firms lead gains

* Higher bond yields hurt defensive shares

* NZ exchange posts a small gain (Updates to close)

June 27 (Reuters) - Australian shares ended higher on Thursday, lifted by commodity and energy-related stocks, though trading volumes were light as many investors kept to the sidelines before this weekend's Group of 20 meeting in Japan.

Global financial markets hope for a thaw in testy United States-China relations when the presidents of the world's two biggest economies meet in Osaka on Saturday.

The S&P/ASX 200 index .AXJO , snapping a two-day losing streak, rose 0.4% to 6,666.30. The benchmark slipped 0.3% on Wednesday.

Mining and energy shares drove Thursday's gains after the prices of major commodities such as oil and copper overnight hit their highest levels in weeks. MET/L O/R

The mining sub-index .AXMM gained 1.8%, reaching its highest level in nearly eight years.

Rio Tinto (LON:RIO) RIO.AX and BHP Group BHP.AX ended the day 3.0% and 1.9% higher, respectively, after Dalian iron ore prices surged on Thursday, ending a three-day losing streak. IRONORE/

The energy sub-index .AXEJ was 1.1% higher.

Financial stocks .AXFJ rose 0.6%, with Commonwealth Bank of Australia CBA.AX , the country's biggest lender, adding 1 percent.

Earlier in the day, CBA said it would review its handling of customer data as part of an agreement with Australia's information commissioner after the bank admitted to losing records in the past. in defensive stocks capped gains on the main index after less aggressive signals from the Federal Reserve and hopes of progress in Sino-U.S. relations pushed up U.S. Treasury yields. The yield on Aussie papers also edged up on Thursday.

Real estate stocks Cromwell Property Group CMW.AX , Charter Hall Retail REIT CQR.AX and Stockland Corp SGP.AX were the day's biggest decliners, down in a range of 4.5%-7.6%.

The healthcare index fell 0.3%, as did sub-index heavyweight CSL Ltd CSL.AX giving away equally.

New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 0.2% higher at 10,431.22.

Shares of Auckland International Airport AIA.NZ , up 2.2%, were the top gainers, followed by Genesis Energy 's GNE.NZ 2% advance.

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.