Australia Market closes in green

Australia stock market finished session slightly higher on Thursday, 24 November 2022, on following the broadly positive cues from Wall Street overnight, as hopes for a slower pace of interest rate hikes by the U.S. Federal Reserve.

At closing bell, the benchmark S&P/ASX200 index was up 10 points, or 0.14%, to 7,241.75. The broader All Ordinaries index added 9.82 points, or 0.13%, to 7,432.23.

The top performing stocks in S&P/ASX200 index were ST BARBARA and BRAINCHIP HOLDINGS, up 9.1% and 8.6% respectively. The bottom performing stocks in S&P/ASX200 index were NEW HOPE CORP and WHITE HAVEN CO, down 8.8% and 6.7% respectively.

 

Total 7 of 11 sectors ended higher along with the S&P/ASX 200 Index. A-REIT was the best performing sector, gaining +1.37%. Meanwhile, Information technology (up 1.3%) and materials (up 0.9%) issues were also notable gainers. Energy sector was worst performer, erasing 1.8%.

Shares of gold miners were the standout, with Evolution Mining up 6.6% after its announcement of significant new copper-gold extensions at their Ernest Henry site. Northern Star Resources shares gained 2.6% after a rise in gold futures overnight.

Shares in copper mining companies were also up, with exploration company Chalice Mining surging 6% and copper and gold producer Silver Lake Resources jumping 4.6%.

Shares of coal companies took a hit, with New Hope down 8.8%, while Yancoal had slid 4% . Whitehaven shares closed down after the company announcement that managing director and chief executive Paul Flynn had this week sold 900,000 shares in the company, worth $7.8 million.

Energy giant AGL's shares declined after it announced it would close South Australia's Torrens Island B gas-fired power plant in 2026.

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