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Australian shares rise on energy boost; U.S. inflation data in focus

09/12/2022 | 09:33pm EST

Sept 13 (Reuters) - Australian shares rose for a fourth straight session on Tuesday, as energy and mining stocks extended gains on strong commodity prices, while investors awaited U.S. inflation data that could influence the size of the Federal Reserve's next rate hike.

The S&P/ASX 200 index had climbed 0.7% by 0014 GMT, adding 4% in the past four sessions.

U.S. consumer price index data for August, due later in the day, will be scrutinised for any signs regarding the number and size of future interest rate hikes from the Fed.

Energy stocks led the gains in Australia with a 1.4% jump and were set for their best day in more than a week if gains hold.

Oil and gas majors Woodside Energy and Santos rose 1.4% and 2.2%, respectively.

Miners climbed 0.9%, with iron ore behemoths BHP and Rio Tinto up 0.4% and 0.8% respectively.

Technology stocks advanced 0.6%, tracking gains in their Wall Street peers. ASX-listed shares of Block Inc rose 0.5%, while battery materials and technology firm Novonix climbed 6.2% to lead the gains on the sub-index.

Financials added 0.8%, with the "big four" banks rising nearly 1% each.

Gold stocks gained 1.5% on higher bullion prices. Newcrest Mining, the country's biggest gold miner, rose 1.1%.

In corporate news, hospital operator Ramsay Health Care said a consortium led by private equity giant KKR & Co Inc had written to the company to say that it would not raise its A$14.5 billion buyout offer.

New Zealand's benchmark S&P/NZX 50 index inched higher 0.04% to 11,815.92. (Reporting by Navya Mittal in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.50% 0.66819 Delayed Quote.-7.56%
BHP GROUP LIMITED 2.12% 44.82 Delayed Quote.33.75%
BRENT OIL 1.44% 84.4 Delayed Quote.7.57%
BRITISH POUND / US DOLLAR (GBP/USD) -0.10% 1.1945 Delayed Quote.-10.90%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.69% 0.73609 Delayed Quote.-5.73%
EURO / US DOLLAR (EUR/USD) -0.17% 1.0324 Delayed Quote.-8.82%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.02% 0.012251 Delayed Quote.-8.84%
KKR & CO. INC. 0.28% 50.7 Delayed Quote.-32.15%
NAVYA -7.57% 0.1026 Real-time Quote.-94.61%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.52% 0.61933 Delayed Quote.-9.08%
NEWCREST MINING LIMITED -0.10% 19.63 Delayed Quote.-19.73%
NOVONIX LIMITED 2.75% 2.24 Delayed Quote.-76.28%
RAMSAY HEALTH CARE LIMITED 0.88% 65.44 Delayed Quote.-9.27%
RIO TINTO PLC 3.73% 5563 Delayed Quote.9.63%
S&P/ASX 200 0.33% 7253.3 Real-time Quote.-2.49%
SANTOS LIMITED 1.10% 7.33 Delayed Quote.14.90%
WOODSIDE ENERGY GROUP LTD -0.35% 36.83 Delayed Quote.68.54%
WTI 2.46% 78.399 Delayed Quote.1.56%
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