AIRLINK 73.00 Decreased By ▼ -2.16 (-2.87%)
BOP 5.35 Decreased By ▼ -0.10 (-1.83%)
CNERGY 4.31 Decreased By ▼ -0.08 (-1.82%)
DFML 28.55 Increased By ▲ 0.91 (3.29%)
DGKC 74.29 Increased By ▲ 2.29 (3.18%)
FCCL 20.35 Increased By ▲ 0.06 (0.3%)
FFBL 30.90 Decreased By ▼ -0.15 (-0.48%)
FFL 10.06 Increased By ▲ 0.09 (0.9%)
GGL 10.39 Increased By ▲ 0.12 (1.17%)
HBL 115.97 Increased By ▲ 0.97 (0.84%)
HUBC 132.20 Increased By ▲ 0.75 (0.57%)
HUMNL 6.68 Decreased By ▼ -0.19 (-2.77%)
KEL 4.03 Decreased By ▼ -0.17 (-4.05%)
KOSM 4.60 Decreased By ▼ -0.17 (-3.56%)
MLCF 38.54 Increased By ▲ 1.46 (3.94%)
OGDC 133.85 Decreased By ▼ -1.60 (-1.18%)
PAEL 23.83 Increased By ▲ 0.43 (1.84%)
PIAA 27.13 Decreased By ▼ -0.18 (-0.66%)
PIBTL 6.76 Increased By ▲ 0.16 (2.42%)
PPL 112.80 Decreased By ▼ -0.36 (-0.32%)
PRL 28.16 Decreased By ▼ -0.59 (-2.05%)
PTC 14.89 Decreased By ▼ -0.61 (-3.94%)
SEARL 56.42 Decreased By ▼ -0.91 (-1.59%)
SNGP 65.80 Decreased By ▼ -1.19 (-1.78%)
SSGC 11.01 Decreased By ▼ -0.16 (-1.43%)
TELE 9.02 Decreased By ▼ -0.12 (-1.31%)
TPLP 11.90 Decreased By ▼ -0.15 (-1.24%)
TRG 69.10 Decreased By ▼ -1.29 (-1.83%)
UNITY 23.71 Increased By ▲ 0.06 (0.25%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
BR100 7,434 Decreased By -20.9 (-0.28%)
BR30 24,206 Decreased By -44.4 (-0.18%)
KSE100 71,359 Decreased By -74.1 (-0.1%)
KSE30 23,567 Increased By 0.5 (0%)

Australian shares inched higher on Monday, supported by financials and gold stocks, with investors awaiting domestic inflation data due this week to guide their outlook on the central bank’s rate hike trajectory.

The S&P/ASX 200 index was up 0.1% at 7,050 by 2355 GMT, set to extend gains for a second session, if current trend holds.

Australia on Wednesday will disclose its consumer price index (CPI) for October, a metric that will determine whether the Reserve Bank of Australia will hike interest rates again in its next meeting.

Gold stocks advanced 0.8%, with Evolution Mining and Northern Star Resources up 2.2% and 1.6%, respectively. Australia-listed shares of Newmont Corp fell 0.2%.

Banks climbed 0.4%, with the “Big Four” lenders up between 0.1% and 0.5%.

Technology stocks notched gains of nearly 1%, catching the tailwind from a bounce on Wall Street in the previous session.

ASX-listed shares of Cash app owner Block rose 0.3%, and software firm Xero climbed 0.4%.

Commodity stocks fell, with the energy sub-index down by 0.2%, tracking a decline in oil prices.

Shares of Woodside Energy fell 0.3%, while Santos rose 0.3%. Buyout-target Origin Energy fell 0.7% after the energy giant said it will adjourn its scheme meeting with Brookfield-led consortium until Dec. 4.

Miners and energy stocks drag Australian shares lower

Miners inched 0.3% lower.

Heavyweights Rio Tinto fell 0.3% while BHP Group slipped 0.5%.

Australia’s IGO Ltd slumped 1.3% after the battery minerals producer said Ivan Vella will head the company following his dismissal from Rio Tinto last month for leaking confidential information.

New Zealand’s benchmark S&P/NZX 50 index fell 0.1% to 11,198.82.

The central bank will hold its overnight cash rate at 5.50% on Wednesday and at least through mid-2024, a Reuters poll showed.

Comments

200 characters