Australia Stocks end tad higher

Australia share market finished session marginally higher on Monday, 08 August 2022, supported by strength in mining and energy stocks. However, market gains were limited on caution ahead of the US inflation data due later in the week to gauge the Federal Reserve's strategy around rate hikes.

At closing bell, the benchmark S&P/ASX200 index was up 5.06 points, or 0.07%, to 7,020.62. The broader All Ordinaries index added 9.22 points, or 0.13%, to 7,259.52.

Shares of materials and resources advanced, with Rio Tinto and BHP rising nearly 2% and 0.8%, respectively.

OZ Minerals surged 35.3% after it rejected A$8.34 billion takeover bid from BHP Group as the offer significantly undervalued the nickel and copper miner

 

CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.611 after a sharp jump following the payrolls data release. The Australian dollar was at $0.6951.

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