AGL 8.30 Decreased By ▼ -0.03 (-0.36%)
ANL 10.95 Increased By ▲ 0.25 (2.34%)
AVN 79.70 Increased By ▲ 1.51 (1.93%)
BOP 5.75 Increased By ▲ 0.18 (3.23%)
CNERGY 5.64 Increased By ▲ 0.26 (4.83%)
EFERT 79.36 Increased By ▲ 0.71 (0.9%)
EPCL 67.48 Decreased By ▼ -0.31 (-0.46%)
FCCL 14.89 Increased By ▲ 0.39 (2.69%)
FFL 6.70 Increased By ▲ 0.10 (1.52%)
FLYNG 7.16 Increased By ▲ 0.13 (1.85%)
GGGL 11.60 Increased By ▲ 0.26 (2.29%)
GGL 17.51 Increased By ▲ 0.27 (1.57%)
GTECH 8.35 Increased By ▲ 0.05 (0.6%)
HUMNL 7.17 Increased By ▲ 0.11 (1.56%)
KEL 3.14 Increased By ▲ 0.06 (1.95%)
LOTCHEM 35.20 Increased By ▲ 2.33 (7.09%)
MLCF 28.35 Increased By ▲ 0.05 (0.18%)
OGDC 87.70 Increased By ▲ 3.15 (3.73%)
PAEL 16.63 Increased By ▲ 0.18 (1.09%)
PIBTL 6.05 Increased By ▲ 0.20 (3.42%)
PRL 19.46 Increased By ▲ 1.34 (7.4%)
SILK 1.14 No Change ▼ 0.00 (0%)
TELE 11.41 Increased By ▲ 0.31 (2.79%)
TPL 9.20 Increased By ▲ 0.20 (2.22%)
TPLP 20.25 Increased By ▲ 0.37 (1.86%)
TREET 27.10 Increased By ▲ 0.48 (1.8%)
TRG 96.20 Increased By ▲ 1.70 (1.8%)
UNITY 20.85 Increased By ▲ 0.48 (2.36%)
WAVES 13.90 Increased By ▲ 0.27 (1.98%)
WTL 1.34 Increased By ▲ 0.03 (2.29%)
BR100 4,275 Increased By 67 (1.59%)
BR30 15,794 Increased By 348.3 (2.26%)
KSE100 42,872 Increased By 628.4 (1.49%)
KSE30 16,219 Increased By 247.6 (1.55%)
Markets

Australia shares near 1-year high on BHP's record dividend, strong profit

  • Top lender Commonwealth Bank of Australia lost up to 1.3%, weighing on the benchmark.
Published February 16, 2021

Australian shares rose on Tuesday to their highest in nearly a year, driven by BHP Group after the miner posted strong profit and declared a record interim dividend, while a surge in commodity prices further lifted mining and energy stocks.

The S&P/ASX 200 index was up 0.3% at 6,888.3 by 2330 GMT. It rose up to 0.7% earlier in the session to hit 6,913.70, its highest since Feb. 25, 2020.

Miners were the biggest boosts to the benchmark, jumping 1.7% to their highest since Jan. 27.

BHP Group rose 2.5% on reporting its best first-half profit in seven years and declaring a record interim dividend. It also said it expects strong Chinese demand to continue in 2021.

"The stronger report (from BHP) against a backdrop of growth positive moves overnight should see a constructive start to Asia Pacific trading today," said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking.

Rio Tinto and Fortescue Metals Group, which are scheduled to release their results later in the week, advanced as much as 3.8% and 1.7%, respectively.

Miners were also helped by strong copper prices, which jumped to their highest since 2012 on Monday.

Financials gained 1.1%, with three of the "Big Four" banks trading in positive territory.

Shares of the country's second-biggest lender, National Australia Bank, were up 2.3% after the bank posted a pickup in first-quarter profit from the previous two quarters, and pointed to encouraging signs on the economy.

Top lender Commonwealth Bank of Australia lost up to 1.3%, weighing on the benchmark.

Among other gainers, energy stocks climbed as much as 1.6%, pushed by an overnight jump in oil prices as COVID-19 vaccine rollouts promised to revive demand.

In New Zealand, the benchmark S&P/NZX 50 index bounced back, rising as much as 0.8% to 12,608.27.

Comments

Comments are closed.