Australian Stocks Trade at 5-Week Highs

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Australian Stocks Trade at 5-Week Highs
Credit: © Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 was up 9.60 points or 0.13% to 7,423.30 during Thursday trade, following gains of 0.53% in the previous session as market participants digested a slew of third-quarter earnings reports both locally and abroad, while higher long term bond yields subdued risk sentiment.

ASX 200 Futures were flat at 7394.

In coronavirus news, Victoria tallied 2232 local cases as Prime Minister Scott Morrison that Victoria has reached its 70% double-dose vaccination target, while New South Wales added 372 fresh cases.

Among stocks, Santos Ltd (ASX: STO ), one of the nation’s largest oil and gas producers, reported a record-breaking US$1.14 billion in quarterly sales revenue as a worsening global energy crunch sends commodity prices soaring. Healius Ltd (ASX: HLS ) gained 4.5% after third-quarter revenue jumped 44%, after revealing it is continuing to see revenues surge due to local coronavirus testing.

On the bond markets, Australia 10-Year rates surged to 6-month highs of 1.826% while United States 10-Year yields were at 5-month highs of 1.662%.

In New Zealand, the NZX 50 fell 14.03 points or 0.11% to 13100.21.

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