Australian stocks continue to rise, closing up 0.3%

Australian stocks continue to rise, closing up 0.3%


The S&P/ASX 200 Index added 19.5 points, or 0.27%, to 7,112.50 in Tuesday's trading session, extending yesterday's 0.3% gain despite the minutes of the meeting. 

The latest RBA meeting marked the possibility of a 0.4% interest rate hike as commodity prices rose stronger, boosting the energy and materials sectors.

Among stocks, energy companies were the biggest gainers with Woodside Petroleum Ltd (ASX: WPL) and Santos Ltd (ASX: STO) both up 2% while Beach Energy Ltd (ASX: BPT) gained 6, first%.

The essential utilities sector gained 1.3% as Origin Energy Ltd (ASX: ORG) added 1.3%, AGL Energy Ltd (ASX: AGL) added 2.3% and APA Group (ASX: APA) added 0, 9%.

The materials sector gained a total of 1.1%, with Rio Tinto Ltd (ASX: RIO) up 2.2%, BHP Billiton Ltd (ASX: BHP) up 0.6%, Fortescue Metals Group Ltd (ASX: FMG) up 2.3%, Champion Iron Ltd (ASX: CIA) up 3.7% and Pilbara Minerals Ltd (ASX: PLS) up 5%.

The financial sector gained 0.7% as Macquarie Group Ltd (ASX: MQG) gained 0.5%, Australia and New Zealand Banking Group Ltd (ASX: ANZ) gained 0.1%, National Australia Bank Ltd (ASX: NAB) up 0.5%, Westpac Banking Corp (ASX: WBC) added 0.3% and Commonwealth Bank Of Australia (ASX: CBA) added 1.7%.

Real estate companies fell 1.2%, of which Mirvac Group (ASX: MGR) dropped 2.3%, Charter Hall Group (ASX: CHC) dropped 1.1%, Goodman Group (ASX: GMG) dropped 4 .1% and Stockland Corporation Ltd (ASX: SGP) fell 0.3%.

Brambles Ltd (ASX:BXB) also fell 7.6% after confirming that takeover discussions with CVC have ended.

In the bond market, the 10-year Australian yield is at 3.403%, while the 10-year US yield is at 2.915%.

In New Zealand, the NZX 50 fell 0.2% to 11,138.

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