Australia Market rises 0.6%

4 Feb 2022 , 06:05 PM

The Australian share market finished session higher on Friday, 04 February 2022, buoyed by gained in tech, energy, and material stocks. At closing bell, the benchmark S&P/ASX200 advanced 42.20 points, or 0.6%, to 7,120.21. The broader All Ordinaries index added 44.29 points, or 0.6%, to 7,418.90.

Technology stocks gained on bargain hunting, with Block, Xero and Wisetech Global gaining between 0.9% and 2.5%.

Energy stocks closed higher, as oil prices climbed due to persistent supply concerns. Woodside Petroleum and Santos closed up 1.1% and 1%, respectively.

Miners also climbed, with heavyweights Rio Tinto and Fortescue Metals gaining about 0.4% and 1%, respectively.

CURRENCY NEWS: The Australian dollar was at $0.7112, largely holding on to gains after its rise from below $0.702 earlier in the trading week.

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