Australian Market Higher, At 14-month High

By Rtt News Staff Writer4 days ago

The Australian stock market is higher on Wednesday at fresh 14-month highs, extending the gains of the previous two sessions, with the benchmark S&P/ASX 200 above the 7,100 mark, on rising commodity prices and strong financial earnings as well as the dovish comments from RBA's interest rate decision yesterday. The cues overnight from Wall Street were mixed.

The benchmark S&P/ASX 200 Index is gaining 47.70 points or 0.68 percent to 7,115.60, after touching a new 14-month high of 7,120.70 earlier. The broader All Ordinaries Index is up 46.50 points or 0.64 percent to 7,370.00. Australian stocks ended modestly higher on Tuesday.

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Among major miners, BHP Group and Rio Tinto are edging up 0.4 percent each, while Fortescue Metals is flat.

In the tech space, Appen is losing more than 3 percent, WiseTech Global is down more than 2 percent and Afterpay is declining almost 3 percent.

Among the big four banks, ANZ Banking is losing almost 2 percent, while National Australia Bank is up almost 1 percent, Westpac is edging up 0.2 percent and Commonwealth Bank is adding more than 2 percent.

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