Australian Shares Trade Higher as Financials Lift

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Australian Shares Trade Higher as Financials Lift
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 added 13.50 points or 0.18% to 7,392.70 during Friday’s trade, extending gains of 0.13% in the previous session, buoyed by gold stocks and miners amid heightened inflation concerns, while fresh record highs in U.S. major benchmark indices overnight also boosted risk sentiment.

ASX 200 Futures were trading 0.31% higher.

Among stocks, financials were outperforming in morning deals, with Commonwealth Bank Of Australia (ASX: CBA ) up 1.02%, National Australia Bank Ltd (ASX: NAB ) up 0.66%, Westpac Banking Corp (ASX: WBC ) adding 0.68% and anz up 0.4%.

Energy companies also traded higher, with Santos Ltd (ASX: STO ) up 0.3%, Oil Search Ltd (ASX: OSH ) gaining 0.24%, Woodside Petroleum Ltd (ASX: WPL ) lifting 0.91%. Major miner were mixed, with Rio Tinto Ltd (ASX: RIO ) down 0.88%, BHP Billiton Ltd (ASX: BHP ) trading flat at 36.06, while Fortescue Metals Group Ltd (ASX: FMG ) added 0.07%.

Meantime, Sonic Healthcare Ltd (ASX: SHL ) gained 3.37%, Skycity Entertainment Group Ltd (ASX: SKC ) was up 3.15% and Treasury Wine Estates Ltd (ASX: TWE ) lifted 4.25% after news that the company purchased a Napa Valley wine company in California for $A434 million.

In Currency markets, the Australian dollar held near monthly lows of 0.72765, while the Greenback eased from its 16-month highs. Meantime, Bitcoin continued its slide, falling for a fifth consecutive day as it slipped below for the first time since October as it continues its retreat from record highs.

On the bond markets, Australia 10-Year rates were at 1.823% while United States 10-Year yields were at 1.593%.

In New Zealand, then NZX 50 was down 0.23% to 12770.

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