Aussie shares edge higher for sixth session of | Australian Markets

The Australian share market has made modest good points to post its highest close in 11 weeks.

The S&P/ASX200 grinded 10.6 factors higher, or 0.13 per cent, to eight,279.6 on Wednesday because the broader All Ordinaries rose 9.5 factors, or 0.11 per cent, to eight,520.2.

The prime 200’s “dull” session fell within its tightest every day vary since September 2024, IG Markets analyst Tony Sycamore stated.

“The price action supports our view that after its rebound from the April low to within 3.5 per cent of its record high, a lot of ‘less-bad’ news is now priced in, and up against a cloud of continued tariff uncertainty,” he stated.

Despite the meagre good points, each indices have posted six straight periods of good points and are trading at 11-week highs

Energy stocks outperformed the broader market, up nearly two per cent as decrease US inventories and sanctions on Iranian oil prospects pushed crude costs higher.

Brent futures are trading at $US65.98, up more than eight per cent for the reason that similar time final week and supported by easing trade tensions between prime oil shoppers China and the United States.

Six of 11 native sectors closed within the inexperienced, with IT stocks up 0.8 per cent and the second-best performer, whereas utilities (-1.6 per cent) and shopper discretionary stocks (-1.4 per cent) led the day’s losses.

Pokie giant Aristocrat Leisure weighed on the patron discretionary sector because it tanked nearly 9 per cent after its first-half income cratered by more than a fifth.

Banks have been a combined bag, with CBA lifting 0.8 per cent to $167.50 after posting quarterly earnings in step with expectations.

NAB was the best of the massive 4, up 1.4 per cent to $36.10. ANZ traded flat and Westpac misplaced 1.2 per cent.

Macquarie was within the headlines for all of the fallacious causes, shedding 1.6 per cent after the company watchdog sued the investment giant over thousands and thousands of alleged misreported short-selling transactions.

Life360 prolonged good points after its earnings beat expectations on Tuesday, rising 9.5 per cent to $29.75 as Morgan Stanley boosted its gross sales steering for the household and pet-tracking technology.

Insignia Financial was the worst performer of the highest 200, down 15.8 per cent after its funds below management fell by $5 billion {dollars} to $321.8 billion.

The Australian greenback is shopping for 64.74 US cents, up from 64.13 US cents, because the dollar bought off after weaker-than-expected US inflation figures in a single day.

The Australian Bureau of Statistics will release April’s labour pressure information on Thursday and economists have extensively tipped a regular unemployment price of 4.1 per cent.

Along with right this moment’s barely higher-than-expected wage price figures, the unemployment print shouldn’t be anticipated to stand in the best way of a 25 foundation level rate of interest cut on the Reserve Bank’s assembly on Tuesday.

ON THE ASX:

* The benchmark S&P/ASX200 index completed Wednesday 10.6 factors higher, up 0.13 per cent to eight,279.6

* The broader All Ordinaries gained 9.5 factors, or 0.11 per cent, to eight,520.2

CURRENCY SNAPSHOT:

One Australian greenback buys:

* 95.29 US cents, from 64.13 US cents on Tuesday at 5pm

* 95.301 Japanese yen, from 94.88 Japanese yen

* 57.87 Euro cents, from 57.72 Euro cents

* 48.68 British pence, from 48.59 pence

* 109.07 NZ cents, from 108.80 NZ cents