Australian Shares Lift 0.5% as Materials Recoup Losses

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Australian Shares Lift 0.5% as Materials Recoup Losses
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 added 29.5 points or 0.5% to 6,624 after the first 50 minutes of Thursday’s trade, partially recouping losses of 0.5% in the previous session as mining companies recovered from a heavy selloff.

ASX 200 Futures were pointing 0.2% lower.

Among stocks, the Materials sector led the gains, up 1.5% collectively as Rio Tinto Ltd (ASX: RIO ) added 2.5%, BHP Billiton Ltd (ASX: BHP ) lifted 1.1%, Fortescue Metals Group Ltd (ASX: FMG ) gained 1.8% and Champion Iron Ltd (ASX: CIA ) added 1.1%.

Financials added 0.1% with Macquarie Group Ltd (ASX: MQG ) up 0.3%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) adding 0.8%, Commonwealth Bank Of Australia (ASX: CBA ) up 0.3%, National Australia Bank Ltd (ASX: NAB ) down 0.4% and Westpac Banking Corp (ASX: WBC ) adding 0.3%.

Real estate companies were 0.2% higher overall, with Charter Hall Group (ASX: CHC ) up 0.2%, Goodman Group (ASX: GMG ) down 0.1% and Stockland Corporation Ltd (ASX: SGP ) lifting 0.1%.

On the bond markets, Australia 10-Year yields were at 3.459% while United States 10-Year rates were at 2.919%.

In New Zealand, the NZX 50 fell 0.1% to 11,126.

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