ASX is up 0.5% near noon

Market Reports

by Finance News Network


Australian shares climbed alongside Wall Street, fueled by expectations of further US interest rate cuts. Miners also gained ground, buoyed by hopes for additional stimulus from China.

At 11:35am, the S&P/ASX 200 is 0.53 per cent higher at 8,230.90.

Out of the 11 sectors, eight posted gains, with materials and financials leading the way.

The SPI futures are pointing to a rise of 51 points.

Best and worst performers

The best-performing sector is Materials, up 0.84 per cent. The worst-performing sector is Utilities, down 0.61 per cent.

The best-performing large cap is Netwealth Group (ASX:NWL), trading 3.9 per cent higher at $27.18. It is followed by shares in GQG Partners (ASX:GQG) and Mineral Resources (ASX:MIN).

The worst-performing large cap is Spark New Zealand (ASX:SPK), trading 1.95 per cent lower at $2.765. It is followed by shares in Steadfast Group (ASX:SDF) and Infratil (ASX:IFT).

Commodities and the dollar

Gold is trading at US$2625.10 an ounce.
Iron ore is 0.1 per cent higher at US$104.75 a tonne.
Iron ore futures are pointing to a 0.38 per cent rise.
One Australian dollar is buying 67.18 US cents.

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