Australian shares up, NZ flat

07 Aug, 2020

SYDNEY: Australian shares ended higher on Thursday, following a firmer finish on Wall Street, as mining and energy stocks rallied on the back of higher commodity and oil prices. The S&P/ASX 200 index rose 0.68% to 6,042.2 at the close of trade. It had earlier risen as much as 0.8% after all three major US indexes booked gains overnight on a surprise profit from Disney and hopes for a new coronavirus relief package.

Leading the gains on Thursday, mining stocks surged more than 2%. Global miners BHP Group and Rio Tinto gained 4.9% and 1.5%, respectively. New Zealand's benchmark S&P/NZX 50 index closed largely flat, as losses in healthcare and consumer stocks offset gains made by financial stocks.

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