The Australian share market is rising strongly, with energy and resource stocks aided by a rebound in global oil prices over the weekend.
Shortly before the midday (AEDT) the ASX 200 had added 69 points, or 1.3 per cent, to 5,368.
The All Ordinaries index was 66 points higher at 5,343.
Local investors are following the lead set by healthy gains on Wall Street on Friday night, when the S&P 500 rose 1.3 per cent.
That rise was underpinned by a 5 per cent bounce in West Texas crude oil, to $US48.44 a barrel.
As a result, oil-exposed Australian-listed firms are also benefitting today.
Oil Search had gained 4.6 per cent, while Santos was up 1.9 per cent and Woodside had risen 1.6 per cent.
BHP Billiton had jumped 4.6 per cent and Rio Tinto was 2.1 per cent higher.
Fortescue Metals Group had added 3.9 per cent and gold miner Newcrest was up 1.4 per cent.
The higher oil price has taken some shine off the airlines though, with Qantas down 2.2 per cent and Virgin Australia falling 1.1 per cent.
The major banks were all trading higher with gains of 0.9 per cent for ANZ, NAB and Westpac and 0.4 per cent for the Commonwealth.
Macquarie Bank had jumped 5.2 per cent, after advising investors it now expects to report an improved full-year profit.
The Australian dollar was buying around 82.3 US cents.
This news story is reprinted from www.abc.net.au
Read more details on offshore bookkeeping services
Shortly before the midday (AEDT) the ASX 200 had added 69 points, or 1.3 per cent, to 5,368.
The All Ordinaries index was 66 points higher at 5,343.
Local investors are following the lead set by healthy gains on Wall Street on Friday night, when the S&P 500 rose 1.3 per cent.
That rise was underpinned by a 5 per cent bounce in West Texas crude oil, to $US48.44 a barrel.
As a result, oil-exposed Australian-listed firms are also benefitting today.
Oil Search had gained 4.6 per cent, while Santos was up 1.9 per cent and Woodside had risen 1.6 per cent.
BHP Billiton had jumped 4.6 per cent and Rio Tinto was 2.1 per cent higher.
Fortescue Metals Group had added 3.9 per cent and gold miner Newcrest was up 1.4 per cent.
The higher oil price has taken some shine off the airlines though, with Qantas down 2.2 per cent and Virgin Australia falling 1.1 per cent.
The major banks were all trading higher with gains of 0.9 per cent for ANZ, NAB and Westpac and 0.4 per cent for the Commonwealth.
Macquarie Bank had jumped 5.2 per cent, after advising investors it now expects to report an improved full-year profit.
The Australian dollar was buying around 82.3 US cents.
This news story is reprinted from www.abc.net.au
Read more details on offshore bookkeeping services
.jpg)
0 comments:
Post a Comment