Australian shares climbed on Wednesday, driven by miners and banks, although gains were capped by losses in supermarket chain Woolworths and tech firm Wisetech Global following their annual results.
By 0040 GMT, the S&P/ASX 200 index rose 0.2% to 8,955.20 points, just 99.3 points below the record high hit on Monday.
Heavyweight miners led the benchmark higher, rising 1.2% on higher copper and gold prices. Gold stocks, part of the broader mining sub-index, advanced 3% to their highest since mid June.
Northern Star Resources and Evolution Mining added 2% and 3.7%, respectively.
Financials rose 0.5%, with the “Big Four” banks gaining between 0.3% and 0.7%.
Investors are awaiting the local inflation data for July, due later in the day, for cues into the Reserve Bank of Australia’s rate cut path, after minutes of the central bank’s August meeting showed the likelihood of further easing.
The benchmark’s rise was limited by 4.5% drop in consumer staples stocks, after Woolworths Group’s full-year results.
Australia’s largest supermarket chain operator flagged a weaker start to its current fiscal year after posting a 19% drop in annual profit, sending shares plummeting as much as 16% to a five-month low.
Wisetech Global slipped as much as 17.8% to its lowest since early May, after the logistics software maker’s operating earnings forecast missed expectations.
That sent the technology sub-index down as much as 3.9% to its lowest since mid-July.
Domino’s Pizza Enterprises plunged nearly 20% after the Australian franchise of pizza chain Domino’s reported its maiden annual loss since going public two decades ago.
Embattled casino operator Star Entertainment said it was in talks with its lenders to secure potential waivers on loan covenants and deferred annual results by a day.
Stock rose 2.5%. New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 12,917.41 points.
Australian shares climbed on Wednesday, driven by miners and banks, although gains were capped by losses in supermarket chain Woolworths and tech firm Wisetech Global following their annual results.
By 0040 GMT, the S&P/ASX 200 index rose 0.2% to 8,955.20 points, just 99.3 points below the record high hit on Monday.
Heavyweight miners led the benchmark higher, rising 1.2% on higher copper and gold prices. Gold stocks, part of the broader mining sub-index, advanced 3% to their highest since mid June.
Northern Star Resources and Evolution Mining added 2% and 3.7%, respectively.
Financials rose 0.5%, with the “Big Four” banks gaining between 0.3% and 0.7%.
Investors are awaiting the local inflation data for July, due later in the day, for cues into the Reserve Bank of Australia’s rate cut path, after minutes of the central bank’s August meeting showed the likelihood of further easing.
The benchmark’s rise was limited by 4.5% drop in consumer staples stocks, after Woolworths Group’s full-year results.
Australia’s largest supermarket chain operator flagged a weaker start to its current fiscal year after posting a 19% drop in annual profit, sending shares plummeting as much as 16% to a five-month low.
Wisetech Global slipped as much as 17.8% to its lowest since early May, after the logistics software maker’s operating earnings forecast missed expectations.
That sent the technology sub-index down as much as 3.9% to its lowest since mid-July.
Domino’s Pizza Enterprises plunged nearly 20% after the Australian franchise of pizza chain Domino’s reported its maiden annual loss since going public two decades ago.
Embattled casino operator Star Entertainment said it was in talks with its lenders to secure potential waivers on loan covenants and deferred annual results by a day.
Stock rose 2.5%. New Zealand’s benchmark S&P/NZX 50 index fell 0.3% to 12,917.41 points.
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