Australian Shares Move Higher, NAB Reports

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Australian Shares Move Higher, NAB Reports
Credit: © Reuters.

By Oliver Gray - The ASX 200 added 15.20 points or 0.20% to 7,467.40 in Tuesday’s morning deals following a flat close in the previous session, with mining companies lifting on stronger commodity prices, as investors continue to digest U.S. earnings reports as well as several local reports and AGMs.

ASX 200 Futures were flat at 7458.5.

Among stocks, National Australia Bank Ltd (ASX: NAB ) has doubled its final dividend after reporting soaring full-year cash earnings and a new oil and gas policy. Mining heavyweights lifted with Rio Tinto Ltd (ASX: RIO ) up 1.56%, BHP Billiton Ltd (ASX: BHP ) adding 2.45% and Fortescue Metals Group Ltd (ASX: FMG ) lifting 1.19% as iron ore prices lifted slightly. Gold miners mostly gained as Evolution Mining Ltd (ASX: EVN ) added 2.07% and Northern Star Resources Ltd (ASX: NST ) gained 1.11%. James Hardie Industries PLC (ASX: JHX ) was up 0.07% after reporting record quarterly sales. Meantime, among companies going ex-dividend, CSR Ltd (ASX: CSR ) was down 3.64%, while Waterco Ltd (ASX: WAT ) dipped 1.16%.

On the bond markets, Australia 10-Year yields were at 1.788% while United States 10-Year rates were at 1.49%.

Investors will also be looking ahead to today’s NAB business confidence release to gauge the strength of Australia’s post-pandemic recovery.

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