(RTTNews) – Australia’s share market rallied strongly on Friday, extending the gains of the previous session, despite a generally unfavorable cue from Wall Avenue in a single day. The benchmark S&P/ASX 200 index is moving well above the 8,200 level, with gains across most sectors led by gold miners and energy stocks amid flat metals and crude oil prices.
The benchmark S&P/ASX 200 gained 29.90 points, or 0.37 per cent, to 8,231.10, after earlier touching a high of 8,230.90. The broader All Ordinaries index rose 28.00 components, or 0.33 percent, to 8,493.00. Australian shares rose sharply on Thursday.
Among major miners, BHP Crew, Rio Tinto and Fortescue Metals are down 0.2pc to 0.3pc each, while Mineral Sources shed almost 1pc.
Oil stocks are sharply higher. Woodside Energy and Santos increase by 0.2 to 0.4 pc each, while Initiating Energy decreases by 0.1 pc Beach energy is unchanged.
Among tech stocks, Zip gains more than 1pc, while Afterpay-owner Block and Xero gain 0.1pc to 0.2pc each. Appen is down almost 3pc and WiseTech Global is down almost 1pc
Among the monumental four, Commonwealth Bank, Westpac and Nationwide Australia Bank and ANZ Banking are each advancing 0.3 to 0.5 per cent. Gold miners are largely higher. Evolution Mining, Resolute Mining and Northern Big name Sources gain more than 2pc each, while Newmont and Gold Boulevard Sources combine for practically 3pc each.
In the foreign exchange market, the Australian dollar is trading at $0.621 on Friday.
On Wall Avenue, stocks rose sharply at the start of the session on Thursday, but failed to sustain the gains and fluctuated throughout the trading day. The precious averages swung back and forth across the unchanged line in morning trading before sliding very firmly into unfavorable territory in the early afternoon, which is easiest to achieve in the latter part of the session.
Worthy averages somehow ended the day modestly lower. The Dow fell 151.95 points, or 0.4 percent, to 42,392.27, and the Nasdaq fell 30.00 points, or 0.2 percent, to 19,280. Seventy-nine and the S&P 500 slipped 13.08 points, or 0.2 percent, to 5,868.55.
Meanwhile, all European value markets moved higher on the day. While Britain’s FTSE 100 index jumped by 1.1 percent, Germany’s DAX index advanced by 0.6 percent and France’s CAC 40 index by 0.2 percent.
Low oil prices settled higher on Thursday on some hopes related to the outlook for oil, the second-largest economy and knowledge in the arena expected a drop in US crude inventories in the week ended December 27. West Texas Intermediate Low crude futures settled $1.41 higher, or about 2pc, at $73.13 a barrel.
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