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Energy and mining stocks drive Aussie market to a higher close

Xinhua, October 20, 2016 Adjust font size:

The Australian share market has closed higher supported by a good profit report in the U.S. markets.

At the close on Thursday the S&P ASX/200 index was up 6.7 points, or 0.12 percent, at 5,442.1 points, and the All Ordinaries was up 7.8 points, or 0.14 percent, at 5,526.2 points.

CMC Markets chief market analyst Ric Spooner told Xinhua mining and energy sectors was a bright spot in the Australian share market on Thursday.

Spooner said solid quarterly performance recorded by Woodside Petroleum, Fortescue Metals Group, Rio Tinto and a stronger oil price had also helped raised the index to a higher close.

At the close, ANZ was up 0.57 percent, the National Australia Bank was down 0.14 percent and Westpac fell 0.63 percent, however the Commonwealth Bank of Australia shed 0.20 percent

BHP Billiton retreated 1.69 percent, rival Rio Tinto was 0.43 percent higher while gold miner Newcrest climbed 2.40 percent.

Oil Search gained 0.83 percent, Santos was surged 4.09 percent while Woodside Petroleum was 0.61 percent stronger.

Wesfarmers declined 0.72 percent while rival Woolworths advanced 0.61 percent.

Qantas added 1.56 percent while telecommunication giant Telstra's fell 0.59 percent at the close. Endit