AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Australian shares rose for a fifth session on Thursday, driven by mining and energy stocks on the back of strong commodity prices, and as global markets rebounded after the US Federal Reserve chairman assuaged worries about aggressive rate hikes.

The S&P/ASX 200 index had climbed 0.7% to 7,166.60 by 2333 GMT, up 2.5% since a 3% drop on Feb. 24.

Wall Street rebounded overnight to end sharply higher after Fed Chairman Jerome Powell signalled the central bank would likely raise interest rates less than some investors had feared.

In Australia, energy stocks led the gains, climbing 3.1% after crude prices surged beyond $110 a barrel on Wednesday as Western sanctions hampered Russia's exporting capabilities.

Sector majors Woodside Petroleum and Santos Ltd advanced 4.3% and 3.5%, respectively.

Miners rose 2.2% on the back of strong commodity prices.

Heavyweight BHP Group climbed 3%, while Rio Tinto rose 2.8%.

Among other sectors, gold stocks lost 0.4%, while financials gained 0.2%.

In other news, coal explorer Stanmore Resources said it would raise about A$694 million ($506.06 million) to fund the acquisition of an 80% stake in BHP Mitsui Coal, a joint venture in Queensland, from global miner BHP Group. Stanmore shares were on a trading halt.

New Zealand's benchmark S&P/NZX 50 index climbed 1.3% to 12,243.90.

Comments

Comments are closed.