Australian Shares Finish 1.3% Higher as Materials Lift

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Australian Shares Finish 1.3% Higher as Materials Lift
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 added 95.70 points or 1.32% to 7,356.90 during Thursday’s deals, snapping two sessions of consecutive loss as a strong performance by mining companies boosted sentiment.

Among stocks, AMP Ltd (ASX: AMP ) was most improved, rallying 13.2% following news that the international infrastructure unit of Collimate Capital had been sold to DigitalBridge Group for $A462 million.

The Materials sector lifted 3.5% collectively, with Rio Tinto Ltd (ASX: RIO ) up 3.5%, BHP Billiton Ltd (ASX: BHP ) adding 4.4%, Pilbara Minerals Ltd (ASX: PLS ) gaining 3.5% and Arizona Lithium Ltd (ASX: AZL ) up 2.8%, while Fortescue Metals Group Ltd (ASX: FMG ) surged 8.1% as the company raised its iron ore export target.

Industrials finished 0.9% higher as Auckland International Airport Ltd (ASX: AIA ) gained 0.9%, Reece Ltd (ASX: REH ) lifted 0.8% and Brambles Ltd (ASX: BXB ) gained 1.3%.

Financials lifted 0.7% overall as Macquarie Group Ltd (ASX: MQG ) added 1.3%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) lifted 0.7% and Westpac Banking Corp (ASX: WBC ) increased 0.6%.

On the bond markets, Australia 10-Year rates eased to 3.086%, while United States 10-Year yields were also lower at 2.819%.

In New Zealand, the NZX 50 added 1.3% to 11,876.

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