Australian Stocks Reach New All-Time High with Strong Gold and Materials Sectors Performance

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

Key Points:

  • The Australian stock market reached a new all-time high, driven by gains in the Gold and Materials sectors; the S&P/ASX 200 index rose by 0.99%
  • Leading performers included Mesoblast Ltd (ASX:MSB), Resolute Mining Ltd (ASX:RSG), and Omni Bridgeway Ltd (ASX:OBL).
  • Zip Co Ltd (ASX:ZIP), G8 Education Ltd (ASX:GEM), and EML Payments Ltd (ASX:EML) witnessed significant declines.
  • With the Sydney Stock Exchange’s overall positive sentiment, the S&P/ASX 200 VIX decreased by 2.62% during the session.

The Australian stock market closed higher on Friday, with the S&P/ASX 200 reaching a new all-time high fueled by gains in the Gold, Materials, and Metals & mining sectors. At the close in Sydney, the S&P/ASX 200 index rose by 0.99%, reflecting positive investor sentiment and bullish market trends.

Leading the session’s gains on the S&P/ASX 200 was Mesoblast Ltd (ASX:MSB), which rose by an impressive 12.12% or 0.06 points to trade at 0.56 at the close. Similarly, Resolute Mining Ltd (ASX:RSG) recorded a significant increase of 10.26% or 0.04 points, closing at 0.43, while Omni Bridgeway Ltd (ASX:OBL) saw a rise of 6.34% or 0.09 points to 1.51 in late trade.

Conversely, Zip Co Ltd (ASX:ZIP) emerged as one of the session’s worst performers, declining by 7.33% or 0.11 points to trade 1.39 at the close. G8 Education Ltd (ASX:GEM) also experienced a downturn, falling by 3.23% or 0.04 points to end at 1.20, while EML Payments Ltd (ASX:EML) witnessed a decrease of 3.15% or 0.04 points to 1.23.

With the overall positive sentiment on the Sydney Stock Exchange, the S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, decreased by 2.62% to 9.79, marking a new 3-month low and indicating reduced market volatility.

In commodities trading, Gold Futures for June delivery experienced a notable increase of 1.90%, reaching $2,254.80 per troy ounce. Meanwhile, Crude oil for delivery in May rose by 2.16% to hit $83.11 a barrel, and the June Brent oil contract saw a slight uptick of 0.05% to trade at $86.99 a barrel.

Currency markets saw mixed movements, with the AUD/USD pair remaining at 0.65 while the AUD/JPY pair falling by 0.10% to 98.51. Meanwhile, the US Dollar Index Futures increased by 0.20% to 104.27, indicating a slight dollar strengthening against a basket of major currencies.

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.

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