AGL 40.01 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 187.98 Increased By ▲ 9.91 (5.57%)
BOP 10.12 Increased By ▲ 0.16 (1.61%)
CNERGY 7.11 Increased By ▲ 0.17 (2.45%)
DCL 10.15 Increased By ▲ 0.06 (0.59%)
DFML 41.57 No Change ▼ 0.00 (0%)
DGKC 107.91 Increased By ▲ 1.02 (0.95%)
FCCL 39.00 Decreased By ▼ -0.03 (-0.08%)
FFBL 82.02 Increased By ▲ 0.13 (0.16%)
FFL 14.90 Increased By ▲ 1.20 (8.76%)
HUBC 119.46 Increased By ▲ 0.21 (0.18%)
HUMNL 14.05 Increased By ▲ 0.05 (0.36%)
KEL 6.40 Increased By ▲ 0.49 (8.29%)
KOSM 8.07 Increased By ▲ 0.01 (0.12%)
MLCF 49.47 Increased By ▲ 1.37 (2.85%)
NBP 73.66 Increased By ▲ 0.83 (1.14%)
OGDC 204.85 Increased By ▲ 11.09 (5.72%)
PAEL 33.56 Increased By ▲ 1.41 (4.39%)
PIBTL 8.07 Increased By ▲ 0.05 (0.62%)
PPL 185.41 Increased By ▲ 11.34 (6.51%)
PRL 33.61 Increased By ▲ 1.01 (3.1%)
PTC 27.39 Increased By ▲ 2.12 (8.39%)
SEARL 119.82 Decreased By ▼ -5.14 (-4.11%)
TELE 9.69 Increased By ▲ 0.27 (2.87%)
TOMCL 35.30 Decreased By ▼ -0.09 (-0.25%)
TPLP 12.25 Increased By ▲ 0.63 (5.42%)
TREET 20.26 Increased By ▲ 1.84 (9.99%)
TRG 60.78 Increased By ▲ 0.29 (0.48%)
UNITY 37.99 Decreased By ▼ -0.22 (-0.58%)
WTL 1.65 Decreased By ▼ -0.01 (-0.6%)
BR100 11,772 Increased By 249.2 (2.16%)
BR30 36,584 Increased By 1034.2 (2.91%)
KSE100 110,810 Increased By 1913.6 (1.76%)
KSE30 34,429 Increased By 620.5 (1.84%)

Australian shares inched higher on Thursday, tracking Wall Street’s strength overnight, with gains in banking stocks outweighing losses in metals and mining, and energy stocks.

The S&P/ASX 200 index was up 0.2% at 8,482.5, as of 0016 GMT.

The benchmark closed 0.4% lower on Wednesday. Overnight, the US Dow Jones Industrial Average rose 0.69% to 45,014.04.

The S&P 500 gained 0.61%, while Nasdaq gained 1.30%. Locally, data on Wednesday showed Australia’s economy in the third quarter grew at the slowest annual pace since the pandemic.

The Reserve Bank of Australia (RBA) had expected economic growth would rise to 1.5% by the end of the year, but the surprisingly weak third-quarter data has put that forecast in jeopardy.

The RBA has kept interest rates steady at a 12-year high of 4.35% for the past year and signalled little inclination to ease anytime soon.

The central bank’s next policy meeting is scheduled on Dec. 10. Rate-sensitive financial stocks climbed 0.6%, with top lender Commonwealth Bank of Australia up 0.7%.

Gold stocks rose 1.9%, as gold prices gained after data showed US private payrolls rose at a moderate pace last month. Technology stocks gained 0.9%.

ASX-listed shares of Block Inc jumped 6.3% to top gains on the benchmark index.

Heavyweight miners were the biggest drag on the benchmark, sliding 0.5%.

Banks, real estate push Australian shares lower; miners cushion blow

Copper prices eased as markets awaited more clarity on demand prospects in top metals consumer China and possible trade tariffs. Mining majors BHP Group and Rio Tinto lost 1.1%, each.

Energy stocks retreated 0.7%, with oil futures falling nearly 2% overnight, as investors awaited an imminent OPEC+ decision on production cuts.

Santos and Woodside Energy lost 0.7% and 1%, respectively.

Meanwhile, New Zealand’s benchmark S&P/NZX 50 index inched up 0.2% to 12,916.78.

Comments

200 characters