Australia Market gains 0.5% on GDP figures, commodities-related stocks lead

Australia stock market finished session higher on Wednesday, 06 June 2018, on tracking positive leads from Wall Street overnight and better than expected economic growth figures, with shares in materials and energy issues led gains on strong commodity prices and stronger-than-expected economic growth figures. The benchmark S&P/ASX200 index added 30.2 points, or 0.5%, to 6,025.1 points, while the broader All Ordinaries gained 28.9 points, or 0.47%, to 6,137.4 points Advancing stocks outnumbered falling ones by 648 to 586 and 410 ended unchanged on the Sydney Stock Exchange. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.15% to 11.270.

GDP data released on Wednesday showed that Australia's economy has grown by 1.01% (March quarter), 0.54% (December quarter, 2017), 0.52% (September quarter, 2017), and 1.03% (June quarter, 2017), bringing the annual growth rate to 3.1%.

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