Australia Market ends higher; Miners lead

29 Nov 2022 , 02:18 PM

Australia stock market finished session higher on Tuesday, 29 November 2022, as gains in shares of materials, healthcare, and tech shares helped to offset elsewhere. At closing bell, the benchmark S&P/ASX200 index was up 24.17 points, or 0.33%, to 7,253.31. The broader All Ordinaries index added 23.43 points, or 0.32%, to 7,442.03. The top performing stocks in S&P/ASX200 index were FISHER & PAYKEL HEALTHCARE CORPORATION and NANOSONICS, up 9.8% and 4.7% respectively. The bottom performing stocks in S&P/ASX200 index were COLLINS FOODS and GRAINCORP, down 19.8% and 4.9% respectively. More sectors ended lower than higher, despite the gain in the S&P/ASX 200 Index. Materials was the best performing sector, gaining 1.7%, followed by healthcare (up 0.6%) and information technology (up 0.3%). A-RIET sector was worst performer, erasing 08%, followed by consumer discretionary (down 0.5%) and utilities (down 0.3%). Shares of materials and resources advanced, as iron ore futures rallied after regulators in top steel producer China broadened equity financing channels for developers. Sector majors BHP Group and Fortescue jumped more than 2% each. Energy stocks edged higher as crude oil moved higher on Monday amid speculation that OPEC will seriously consider a new production cut at its meeting later this week. West Texas Intermediate Crude oil futures for January gained $0.96 or 1.3% at $77.24 a barrel. Beach Energy added 1.3%, while Santos climbed 0.6%. CURRENCY NEWS: The Australian dollar was up 1.3% at $0.6736 against greenback after trading in range 06640-0.6739 on Tuesday, as rumours swirled that recent protests in several Chinese cities might prompt an earlier easing of strict COVID-19 restrictions. Powered by Capital Market – Live News