Australia Market ends edge higher

6 Oct 2022 , 04:09 PM

Australia stock market finished session marginally higher on Thursday, 06 October 2022, registering third day of consecutive gains, thanks to strong gains in the energy stocks after OPEC+ agreed to cut production by 2 million barrels per day to shore up prices. However, market gains were marginal due to fall in financials and realty stocks amid recession fears. At closing bell, the benchmark S&P/ASX200 index rose 1.84 points, or 0.03%, to 6,817.52. The broader All Ordinaries index added 2.56 points, or 0.04%, to 7,033.46. Energy stocks climbed on the back of rising oil prices. Woodside Energy and Santos advanced 2.6% and 1.8%, respectively. Shares of miners rose, with BHP Group and Rio Tinto gaining 0.6% and 0.2%, respectively, while Fortescue Metals Group eased 0.1%. Financials declined, with Australias ?Big Four? banks declining between 0.4 and 1%. Powered by Capital Market – Live News