2 days ago
Aust shares rise, Aussie dollar hits seven-month high
The local bourse has had a positive start to the new financial year, with shares moving modestly higher following a record-setting session on Wall Street.
At midday AEDT on Tuesday, the benchmark S&P/ASX200 index was up 14.2 points, or 0.17 per cent, to 8,556.5, while the broader All Ordinaries had gained 12.4 points, or 0.14 per cent, to 8,785.5.
The Australian dollar meanwhile had hit a fresh seven-month high against its weakening American counterpart, buying as much as 65.84 US cents in overnight trading.
At midday the Aussie was buying 65.69 US cents, from 65.44 US cents on Monday.
Also overnight, both the S&P500 and the Nasdaq finished at fresh record highs amid optimism over potential Fed rate cuts and hopes that countries could reach trade agreements with the US before a July 9 deadline after Canada scrapped its tax of technology companies, IG analyst Tony Sycamore wrote.
At midday five of the ASX's 11 sectors were lower and six were higher.
Utilities was the biggest mover, up 1.0 per cent as APA Group rose 1.5 per cent, and Origin Energy added 0.9 per cent.
In the heavyweight mining sector, Fortescue was up 0.2 per cent but BHP had dipped 0.3 per cent and Rio Tinto had declined 1.1 per cent.
The big four banks were mixed, with ANZ up 2.1 per cent, NAB adding 0.4 per cent and Westpac edging 0.1 per cent higher, while CBA had declined 1.1 per cent.
HMC Capital had plunged 16.9 per cent after the diversified alternative asset manager announced that its energy transition head, Angela Karl, had stepped down.
SGH had dropped 2.7 per cent after diversified operating company formerly known as Seven Group Holdings announced that Vik Bansal, chief executive of its Boral business, would step down in 2026.
