Australian Stocks Edge Higher Amid Gains in Energy and Mining Sectors

Australian Stocks Edge Higher, Led by Gains in Gold and IT Sectors

Key Points

  • The S&P/ASX 200 closed up 0.52%, supported by Energy and Mining gains.
  • Mesoblast Ltd. (ASX:MSB), Appen Ltd. (ASX:APX), and St Barbara Ltd. (ASX:SBM) were among the top performers.
  • Technology One Ltd. (ASX:TNE), Bapcor Ltd. (ASX:BAP), and Kogan.com Ltd. (ASX:KGN) were among the worst performers.
  • On the Sydney Stock Exchange, 574 stocks rose compared to 472 that fall, while 434 remained unchanged. The S&P/ASX 200 VIX decreased by 1.84%.

Australian stocks closed higher on Thursday, with the S&P/ASX 200 rising 0.52% or 42.10 to 8,201.20. Strong performances in the Energy, Resources, and Metals & mining sectors drove this.

Mesoblast Ltd. (ASX:MSB) emerged as the session’s top performer, surging 8.06% or 0.25 to 3.35 AUD, marking a three-year high for the biotechnology company. Appen Ltd. (ASX:APX) also recorded notable gains, adding 6.82% or 0.18 to close at 2.82 AUD, while St Barbara Ltd. (ASX:SBM) rose 4.44% or 0.01 to finish at 0.24 AUD.

On the other hand, Technology One Ltd. (ASX:TNE) was the day’s weakest performer, slipping 2.20% or 0.69 to close at 30.62 AUD. Bapcor Ltd. (ASX:BAP) followed, dropping 1.91% or 0.09 to settle at 4.63 AUD, while Kogan.com Ltd. (ASX:KGN) declined 1.61% or 0.10 to end at 6.11 AUD.

Despite these losses, advancing stocks outnumbered decliners on the Sydney Stock Exchange, with 574 stocks rising compared to 472 that fell, while 434 remained unchanged. The S&P/ASX 200 VIX, which gauges market volatility, decreased by 1.84% or 0.21 to 11.11, reflecting improved investor sentiment.

In the commodities market, Gold Futures for February delivery gained 0.25% to trade at $2,647.61 per troy ounce, while Crude Oil for February delivery increased by 0.29% to reach $71.93 per barrel. The March Brent oil contract also increased by 0.23% to trade at $74.81 per barrel, signaling steady demand in energy markets.

The Australian dollar remained stable in currency trading, with the AUD/USD pair unchanged at 0.62. The AUD/JPY pair saw a slight uptick, rising 0.59% to 97.67. Meanwhile, the US Dollar Index Futures dipped 0.10% to 108.19, indicating a marginal greenback weakening against other major currencies.

Overall, the Australian market reflected optimism in energy and mining stocks alongside caution in certain technology and consumer sectors, while global commodity and currency markets exhibited relative stability.

EDITORIAL TEAM
EDITORIAL TEAM
TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

Read More

We are highly passionate and dedicated to delivering our readers the latest information and insights into technology innovation and trends. Our mission is to help understand industry professionals and enthusiasts about the complexities of technology and the latest advancements.

Visits Count

Last month: 99286
This month: 5912 🟢Running

Company

Contact Us

Follow Us

TECHNOLOGY ARTICLES

SERVICES

COMPANY

CONTACT US

FOLLOW US