Australian Shares Lift 0.1% Ahead of GDP Print

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Australian Shares Lift 0.1% Ahead of GDP Print
Credit: © Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 added 6.9 points or 0.1% to 7,218.1 after the first hour of Wednesday’s trade, following losses of 1% in the previous session as market participants await fresh quarterly GDP data set to be released later in the session.

ASX 200 Futures were pointing 0.5% higher.

Among stocks, Utilities led the declines, down 4.3% as Origin Energy Ltd (ASX: ORG ) tanked 14.6% after the company withdrew fiscal 2023 guidance. Meridian Energy Ltd (ASX: MEZ ) fell 1.4%, AGL Energy Ltd (ASX: AGL ) dipped 0.3% while Mercury NZ Ltd (ASX: MCY ) and Infratil Ltd (ASX: IFT ) added 0.4% and 0.9% respectively.

Real Estate stocks were up 1.6% collectively, with Goodman Group (ASX: GMG ) adding 0.9%, Charter Hall Group (ASX: CHC ) up 0.5%, Mirvac Group (ASX: MGR ) gaining 0.9% and Stockland Corporation Ltd (ASX: SGP ) up 0.3%.

Financials lifted 1%, with Macquarie Group Ltd (ASX: MQG ) up 1.1%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) lifting 1%, National Australia Bank Ltd (ASX: NAB ) adding 1%, Westpac Banking Corp (ASX: WBC ) up 0.8% and Commonwealth Bank Of Australia (ASX: CBA ) adding 1.4%.

Information Technology was down 0.6% with Block Inc (ASX: SQ2 ) falling 3.1%, Appen Ltd (ASX: APX ) down 0.3%, Megaport Ltd (ASX: MP1 ) falling 0.4%, Novonix Ltd (ASX: NVX ) dipping 5.1% and Brainchip Holdings Ltd (ASX: BRN ) down 1.8%

On the bond markets, Australia 10-Year yields were at 3.425% while United States 10-Year rates were at 2.877%.

In New Zealand, the NZX 50 added 0.2% to 11,332.5.

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