Market closes 1.3% higher
Last updated: 4:30pm AEST
The Australian share market finished the day in positive territory, bouncing back after successive sessions in the red.
The S&P/ASX200 closed 86.50 points or 1.29% higher, to finish the day at 6,806.40.
The broader All Ordinaries gained 81.50 points or 1.17% to 7,030.10.
Miners helped lead the gains, with Materials the best performing sector, gaining 2.63%.
Coal miner, New Hope Corporation (ASX:NHC) was a standout, with its shares rising more than 9% to hit a new 52-week high, on the back of strong earnings results for Fiscal 2022 and dividends.
Across the market, nine of 11 sectors ended higher.
Communications provider, Tuas Ltd. (ASX:TUA) was also a major gainer, with its shares rising more than 8% to close the day at AU$1.58.
Afternoon trading tracks up
Last updated: 2:10pm AEST
The Australian Share market is locking in early gains, and continuing to track higher in the afternoon, bouncing back after declines on Monday.
The local market continued to take its cues from Wall Street gains overnight, with the S&P/ASX200 up 82.10 points or 1.22% to 6,802.00.
The broader All Ordinaries index was up, gaining 76.00 points or 1.09% to 7,024.60.
10 of 11 sectors were higher, with Materials the best performer, gaining 2.50% for the day.
Meanwhile, Communications provider, Tuas Ltd. (ASX:TUA) was a major gainer, with its shares rising about 7% to trade above AU$1.56.
The surge followed the release of Tuas’ Fiscal 2022 results, which showed despite a net loss, the company achieved strong revenue growth and an increasing subscriber base.
Aussie stocks jump-up in early trading
Last updated: 11:00am AEST
The Australian share market jumped-up upon opening trading today, bouncing back after several days in decline.
The local morning jump, follows on from gains on Wall Street over night.
The Australian market saw the S&P/ASX200 gain 70.60 points or 1.05% to 6,790.50.
Meanwhile, the broader All Ordinaries gained 68.70 points or 0.99% to 7,017.30.
10 of 11 sectors were higher. Materials was the best performing sector, gaining 1.85% and rebounding from its recent decline.
The often overlooked asset class of mining royalties may begin seeing a lot more attention amongst investors evaluating ASX miners, after Rio Tinto Limited (ASX:RIO) and South32 Ltd. (ASX:S32), unlocked hundreds of millions of dollars from mining royalty sell-off deals recently.
The Australian share market is set to bounce back from its lackluster Monday, as it takes signals from a tech-led rally on Wall Street overnight.
ASX futures were up 0.73%, to over 6,770 around 6:30am AEST.
Yesterday the S&P/ASX200 dropped 19.20 points, or 0.28% to 6719.90, hitting a two month low.
Following the Australian market close, U.S. markets went on to have solid day, finishing in the green. The Dow Jones Industrial Average (DJIA), the S&P 500 (SPX), and the Nasdaq 100 (NDX) increased by 0.64%, 0.69%, and 0.77%, respectively.
However, U.S. markets are expected to remain choppy this week, amid the Federal Reserve’s decision to announce a rate hike, with its impacts likely to flow onto the Australian market.
The Australian dollar was sitting at around 0.67.2 at U.S. market close.
Brent Crude was up around 0.5%, at about US$91.8 a barrel.
Gold was up slightly by around 00.4%, at about $US1675 an ounce.
Iron ore dropped around 3%, to sit at about US$101 a tonne.
Meanwhile, Bitcoin (BTC) was up slightly by 0.59%, to US$19,532.70.