Off the wire
• Tokyo stocks jump from the bell as U.S. shares' rise set the tone, weak yen adds support  • Australian banking giant CBA posts profit in billions  • Australian grocery giant Wesfarmers posts strong half-yearly results  • Xinhua world news summary at 0030 GMT, Feb. 15  • China's Ding suffers first round exit at Welsh Open  • Australian dollar down against the greenback  • Gold down slightly after Yellen speech  • Canadian market edges up to extend all-time high  • Trump signs bill to repeal transparency rule for energy companies  • Russia deploys new cruise missiles in violation of treaty, U.S. paper claims  
You are here: 　 Home

Australian market has massive boost on Wednesday

Xinhua, February 15, 2017 Adjust font size:

The Australian share market has risen sharply on Wednesday, off the back of positive gains in the U.S. market overnight.

At 1032 local time AEDT, the benchmark S&P/ASX200 was up 50.4 points, or 0.88 percent, at 5,805.6, while the All Ordinaries index was up 45.9 points, or 0.8 percent, to sit at 5,856.8 points.

Chris Weston, chief market strategist at IG, told Xinhua investors should be cautious in the Australian market today, as the strong results may not hold.

"Whether that goodwill lasts is yet to be seen and we may end up having a re-run of yesterday's tape, where the index opened on a high and tailed off quickly." Weston said.

The banks had a great morning, with the Commonwealth Bank of Australia up 2.18 percent, the National Australia Bank also rose, up 1.98 percent, ANZ also opened strong, up 1.79 percent, while Westpac rounded out the four, up 1.59 percent.

The miners also performed well, with BHP Billiton up 1.18 percent, Fortescue were also tracking well, up 0.87 percent, Newcrest were solid, up 0.72 percent, while Rio Tinto slid slightly, down 0.05 percent this morning.

In oil and gas, and Santos had a great start, up 0.25 percent, Oil Search did well, up 1.76 percent, while Woodside Petroleum also had an uptick, up 0.22 percent.

Grocery giant Woolworths was down, 0.33 percent, while rivals Wesfarmers on the heels of a strong half-yearly result this morning, were up a whopping 2.21 percent.

Aussie airline Qantas made gains, up 1.32 percent, while telco giant Telstra were down 0.19 percent. Endit