Australia Market end 0.1% higher

The Australian share market has finished session slight higher on Thursday, 25 November 2021, as gains in miners on the back of strong iron ore prices offset by losses in financial stocks. At closing bell, the benchmark S&P/ASX200 advanced 7.85 points, or 0.11%, to 7,407.29. The broader All Ordinaries index added 11.36 points, or 0.15%, to 7,736.86.

The top performing stocks in this index were EML PAYMENTS and NICKEL MINES, up 31.3% and 7.2% respectively. The bottom performing stocks in this index included AMP and KOGAN.COM, down 5% and 4.3% respectively.

Shares of materials companies advanced, with BHP, Fortescue Metals Group and Rio Tinto gaining between 1% and 1.8% as iron ore futures hit a three-week high.

 

Tech stocks also surged, with EML Payments climbing more than 31% after its unit received the Irish central bank's nod to sign new customers.

Financials were down, with big four banks fall between 0.5-1.5% on expectations the Reserve Bank of Australia will likely hold a dovish stance on interest rates for quite some time.

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