Australia Market extends gains

Image
Capital Market
Last Updated : Feb 02 2022 | 7:50 PM IST
The Australian share market finished higher for second straight session on Wednesday, 02 February 2022, as investors risk sentiments improved on tracking an overnight Wall Street rally and the Reserve Bank of Australia upbeat economic outlook and called for patience in tightening monetary policy, prompting investors to scoop up recently oversold stocks.

At closing bell, the benchmark S&P/ASX200 advanced 81.65 points, or 1.17%, to 7,087.69. The broader All Ordinaries index grew 88.83 points, or 1.19%, to 7,399.60.

A jump in oil prices lifted energy stocks, with Woodside Petroleum and Santos rising around 3% each.

Miners BHP, Rio Tinto, South32 and Fortescue Metals Group rallied 2-4% as copper and nickel prices rose on a weaker dollar.

CURRENCY NEWS: The Australian dollar changed hands at $0.7134 following its rise from levels below $0.702 earlier in the trading week.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 02 2022 | 4:43 PM IST

Next Story