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Australian stocks strong spurred by robust session on Wall Street

Xinhua, June 19, 2015 Adjust font size:

A robust session on Wall Street overnight spurred Australia's markets to a strong start of Friday' s trade.

At the opening, the benchmark S&P/ASX200 rallied 0.96 percent to 5578.2 points, while the broader All Ordinaries index surged 0. 91 percent to 5573.1 points.

Rivkin Securities chief executive Scott Schuberg told Business Spectrum that despite peculation of a possible Greek exit from the Eurozone, traders seemed more interested in the future trajectory of US interest rates.

"Traders seemed to conclude last night, irrespective of the outcome, that the world is going to be OK irrespective of what happens to Greece, buying up equities and risk currencies in the process," Schuberg said.

Energy stocks gained more than 1.44 percent at the open, with Santos rallying 1.56 percent and Woodside Petroleum taking the lead, up 1.64 percent.

Materials joined in on the gains, up 0.28 as a sector as the iron ore price remains steady at Thursday's close of 60.90 U.S. dollars per tonne.

BHP rallied 1.18 percent joined by rival Rio Tinto, lifting 1. 15 percent. Endi