Feb 8 (Reuters) - Australian shares climbed on Wednesday, lifted by miners and banks, while construction materials maker Boral surged 12% after reporting upbeat results.
The S&P/ASX 200 index rose 0.3% to 7,524 points at 2437 GMT, after falling for two consecutive sessions. The benchmark closed 0.5% lower on Tuesday.
Shares of Boral Ltd touched their highest since Feb. 10 after the company's half-year revenue beat estimates.
Aiding sentiment further, comments by the Federal Reserve Chair Jerome Powell on Tuesday were seen as dovish and renewed hopes for less aggressive monetary policy.
Among individual shares and sectors, domestic miners added 0.9%, with BHP Group and Rio Tinto rising between 0.9% and 1.2%.
Fortescue Metals Group rose 1.3%. On Wednesday, it announced a deal with the Gabonese government for Belinga iron ore and said it plans to begin mining in late-2023.
Financials added 0.9% to hit their highest since April 26, 2022 after Australia's central bank indicated more tightening ahead alongside the current decade-high rates. Two of the "Big Four" banks have raised their lending rates already.
Insurer Suncorp Group rose 1.7% after posting a 63% jump in first-half cash earnings.
Gold stocks ascended 0.9%, tracking firmer bullion prices. Sector heavyweight Newcrest Mining and Northern Star Resources jumped 2.2% and 1%.
Energy stocks rose 0.6% as oil prices climbed more than 3%. Sector major Woodside Energy and Santos edged up 0.9% and 0.4% respectively.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index rose 0.4% to 12,173.16 points. (Reporting by Nausheen Thusoo in Bengaluru; editing by Uttaresh.V)
