AGL 6.80 Increased By ▲ 0.06 (0.89%)
ANL 9.40 Increased By ▲ 0.08 (0.86%)
AVN 81.50 Increased By ▲ 1.05 (1.31%)
BOP 5.44 Increased By ▲ 0.03 (0.55%)
CNERGY 5.05 Increased By ▲ 0.09 (1.81%)
EFERT 82.70 Increased By ▲ 2.79 (3.49%)
EPCL 58.50 Increased By ▲ 2.17 (3.85%)
FCCL 15.64 Decreased By ▼ -0.23 (-1.45%)
FFL 6.53 Increased By ▲ 0.18 (2.83%)
FLYNG 8.50 Increased By ▲ 0.20 (2.41%)
GGGL 10.22 Increased By ▲ 0.14 (1.39%)
GGL 16.59 Increased By ▲ 0.33 (2.03%)
GTECH 8.73 Increased By ▲ 0.25 (2.95%)
HUMNL 6.54 Increased By ▲ 0.15 (2.35%)
KEL 3.05 Increased By ▲ 0.07 (2.35%)
LOTCHEM 29.35 Increased By ▲ 0.46 (1.59%)
MLCF 28.65 No Change ▼ 0.00 (0%)
OGDC 76.35 Increased By ▲ 1.85 (2.48%)
PAEL 16.40 Increased By ▲ 0.27 (1.67%)
PIBTL 5.76 Increased By ▲ 0.11 (1.95%)
PRL 17.57 Increased By ▲ 0.59 (3.47%)
SILK 1.16 Decreased By ▼ -0.03 (-2.52%)
TELE 11.37 Decreased By ▼ -0.08 (-0.7%)
TPL 8.18 Increased By ▲ 0.18 (2.25%)
TPLP 22.24 Increased By ▲ 0.89 (4.17%)
TREET 23.62 Increased By ▲ 0.52 (2.25%)
TRG 146.20 Increased By ▲ 2.29 (1.59%)
UNITY 23.33 Increased By ▲ 0.32 (1.39%)
WAVES 11.70 Increased By ▲ 0.10 (0.86%)
WTL 1.59 Increased By ▲ 0.02 (1.27%)
BR100 4,239 Increased By 59.6 (1.43%)
BR30 16,507 Increased By 306 (1.89%)
KSE100 42,095 Increased By 483.6 (1.16%)
KSE30 15,863 Increased By 258.3 (1.66%)
Markets

Miners, tech firms boost Australia shares

  • Energy stocks were up 0.3% with Woodside Petroleum and Whitehaven Coal gaining 1.3% and 0.9%, respectively
Published July 29, 2021
Follow us

Australian shares rose on Thursday, as tech stocks and miners led the charge with Fortescue Metals gaining after record fourth-quarter shipments and firmer commodity prices helped the iron ore miner beat its annual forecast.

The S&P/ASX 200 was up 0.4% at 7,412.1 points, as of 1249 GMT. The index closed 0.7% lower on Wednesday.

Markets showed scant reaction to reports that New South Wales, Australia's most populous state, recorded its biggest daily rise in COVID-19 cases since the pandemic began as residents of state capital Sydney face another month under tough curbs to stamp out the Delta variant.

Australian, NZ shares up

Miners jumped 1.7% to scale a record high, helped by a 3% rise in sector heavyweight Fortescue Metals Group Ltd following its strong quarterly numbers.

Rivals Rio Tinto and BHP added more than 3% each to hit all-time highs.

Tech stocks advanced more than 2%, with Iress Ltd shares jumping 16.2% to their highest in more than a year after the fintech company rejected a takeover offer from private-equity firm EQT.

Gold stocks climbed more than 1% on higher bullion prices. Regis Resources and heavyweight Northern Star Resources gained 5.6% and 1%, respectively.

Bucking the upbeat mood, financials slipped 0.2% with the "Big Four" banks falling between 0.2% and 0.7%.

Shares of Macquarie Group extended losses to a third consecutive session after the financial conglomerate trimmed its dividend payout range even though it reported a rise in first-quarter profit.

Energy stocks were up 0.3% with Woodside Petroleum and Whitehaven Coal gaining 1.3% and 0.9%, respectively.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index was up 0.7%, with healthcare and utility stocks leading the gains on the bourse.

Comments

Comments are closed.