Economy News Shares

Several Energy Shares Drove The ASX Higher


Australian shares edged greater on as energy shares rose tracking an uptick in oil costs, though losses in gold and technology capped gains Wednesday. The S&P/ASX 200 index rose 0.11percent to 7,041.5 points by 0027 GMT.

The most notable percentage gainer in the benchmark index was Ansell Ltd, increasing 5.1% after projecting strong product sales development for the half 12 months and year that is full.

The percentage that is top on the index were St Barbara Ltd , with a 7.6% autumn, and JB Hi-Fi Ltd, losing 3.9%, as both companies reported disappointing profits for the quarter.

Stocks of Bingo Industries Ltd were the most traded by amount for the second time in a line, it might be purchased by funds managed by Macquarie Group for $1.8 billion after it said on Tuesday.

Among sectors, energy shares rose 0.7%, monitoring gains in oil prices.

Viva Energy Group Ltd led gains by having a 3.8% rise, building on Tuesday’s gains it expected $15 million in federal government help for refinery in the 1st quarter after it said.

Economic stocks rose 0.74% led by QBE Insurance Group Ltd, up 2.28percent, followed by Virgin Money UK PLC , gaining 2.03%, Meta News found.

Technology stocks fell 0.6% with Link Administration Holdings Ltd leading the losses with a 3.7% drop after having a consortium Carlyle that is including Group Pacific Equity Partners withdrew its bid for the business.

Miners fell 1.23% while gold shares dropped 2.28%. St Barbara Ltd ended up being the loser that is top both the indexes.

In other markets, Japan’s Nikkei was down 0.11% at 28,958.98, while S&P 500 E-minis futures were up 1.75 points, or 0.04percent.

The standard S&P/NZX 50 index rose 0.31percent to 12,659.6 in New Zealand. The percentage that is top regarding the index were SKY Network Television Ltd, down 2.84%, and Oceania Healthcare Ltd, losing 1.43%. Australian shares edged greater on as energy shares rose.


Billy Houghton

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