Resources troubles weighed on the Australian share market on Thursday, with the benchmark S&P/ASX 200 (INDEXASX: XJO) index share price falling for a fifth straight
The mood was distinctly positive on the trading screens, with the benchmark S&P/ASX 200 (INDEXASX: XJO) index putting on 120.1 points, or 1.7 per cent, to 7,377.9, while the broader All Ordinaries (INDEXASX: XAO) rose 130.3 points, also 1.7 per cent, to 7,599.4.
The benchmark S&P/ASX 200 (INDEXASX: XJO) index ending the session 4.1 points to the good, at 7,199, while the broader All Ordinaries (INDEXASX: XAO) edged 4.6 points into the green, to 7,410.2.
Here’s today’s latest updates on the S&P/ASX 200 (INDEXASX: XJO) and the broader All Ordinaries (INDEXASX: XAO) share prices.
The benchmark S&P/ASX 200 (INDEXASX: XJO) index adding 51.5 points, or 0.7 per cent, to 7124.7, with nine of the 11 sectors finishing in the green. The broader All Ordinaries (INDEXASX: XAO) index also rose 0.7 per cent, in its case 51 points, to 7,336.1.
The Australian dollar and bond yields slid after the Reserve Bank of Australia lifted the cash rate by 0.25% on Melbourne Cup Day, to 4.35%.
The Australian sharemarket rebounded from 11-month lows on Thursday, notching a small gain as markets braced for the official US jobs data on Friday night Australian time.
The Australian sharemarket closed at its lowest point in 11 months on Wednesday, hampered by a weak lead-in from Wall Street, and its interest-rate worries.
The Australia share market retreated to a six-month low on Tuesday, as global markets felt the pressure from surging bond yields – despite, in Australia’s case, the Reserve Bank leaving the official cash rate on hold at 4.1 per cent, for a fifth straight month.
