Australian shares climb again

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 14:15:59

Australian shares climb again

Australian shares climb again
Australian shares climbed again on Friday and stayed on track for their biggest weekly gain in two months as investors continued to welcome the Fed cautious approach to future rate hikes.

The S&P/ASX 200 index, which rose the past three days, was up 0.6 per cent, or 31.14 points, to 5,405.6 at 0230 GMT.

The Australian dollar climbed to a two-week high of $0.7638 following the RBA governor's upbeat views.

Financial stocks accounted for nearly half of Friday's gains on the benchmark. National Australia Bank, the biggest lender, advanced for an eighth straight session, rising 1.6 per cent.

Iluka Resources Ltd was the top percentage gainer, jumping as much as 6.4 per cent.

Logistics provider Brambles Ltd snapped two sessions of losses to rise 2.0 per cent.

Mining giant Rio Tinto Ltd extended gains into a fourth day, climbing as much as 1.4 per cent to touch a near one-month high.

At the other end, gold stocks slid more than 2.0 per cent as spot gold inched lower. Newcrest Mining Ltd fell 2.0 per cent, erasing recent gains, according to a news agency.

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