Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Australian shares track global markets higher as BoE seeks to quell UK bond rout

09/28/2022 | 09:15pm EST

Sept 29 (Reuters) - Australian shares climbed on Thursday amid a global rebound in equity markets, after the Bank of England said it would take immediate measures to calm Britain's distressed bond markets.

The S&P/ASX 200 index rose 1.7% by 0024 GMT. The benchmark fell 0.5% on Wednesday.

Global markets recovered marginally after the British central bank said it will launch an emergency bond-buying programme aimed at preventing the market turmoil from spreading.

In Sydney trading, energy stocks led the gains, climbing 2.7% on higher oil prices after U.S. fuel inventory figures showed larger-than-expected drawdowns.

Oil and gas majors Woodside Energy and Santos rising 3.3% and 2.6%, respectively.

AGL Energy gained 2.6%, after the country's top power producer unveiled plans to invest up to A$20 billion ($13.00 billion) in new renewable energy by 2036.

Miners advanced 2.7% with iron ore behemoths BHP and Rio Tinto up 2.2% and 1.7%, respectively.

Strong bullion prices lifted gold stocks 4.6%, with country's largest gold miner Newcrest Mining jumping 3.4%.

Tech index and financials gained over 1% each.

Premier Investments Ltd soared 8.4% and was the top gainer on ASX 200, after the fashion retailer posted an annual net profit attributable of A$285.2 million ($185.35 million), compared with A$271.8 million a year ago.

Separately, Iress, down 17.8%, was the top percentage decliner, after the software provider trimmed its full-year net profit after tax guidance to between A$54 million and A$58 million from the previous range of A$63 million to A$72 million.

The New Zealand benchmark S&P/NZX 50 index rose 1.2% to 11,251.91. The country's central bank proposed changes to the means by which banks should apply risk weighting to their exposures under capital adequacy rules. ($1 = 1.5387 Australian dollars) (Reporting by Navya Mittal in Bengaluru; Editing by Rashmi Aich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AGL ENERGY LIMITED 0.50% 8.09 Delayed Quote.31.11%
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.84% 0.54922 Delayed Quote.2.98%
BHP GROUP LIMITED 2.29% 46.81 Delayed Quote.39.45%
BRENT OIL -4.47% 82.95 Delayed Quote.10.28%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.20% 0.603686 Delayed Quote.3.28%
EURO / BRITISH POUND (EUR/GBP) 0.41% 0.86086 Delayed Quote.2.07%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.08% 0.010029 Delayed Quote.0.82%
IRESS LIMITED -0.61% 9.71 Delayed Quote.-21.84%
NAVYA -3.79% 0.0786 Real-time Quote.-96.03%
NEWCREST MINING LIMITED -0.14% 21.06 Delayed Quote.-13.85%
PREMIER INVESTMENTS LIMITED 0.24% 25.46 Delayed Quote.-16.23%
RIO TINTO PLC 1.56% 5671 Delayed Quote.14.15%
S&P/ASX 200 0.33% 7325.6 Real-time Quote.-1.92%
SANTOS LIMITED 2.66% 7.34 Delayed Quote.13.31%
US DOLLAR / BRITISH POUND (USD/GBP) 0.90% 0.820762 Delayed Quote.10.08%
WOODSIDE ENERGY GROUP LTD 1.96% 36.41 Delayed Quote.62.84%
WTI -4.71% 77.292 Delayed Quote.6.45%
Latest news "Economy"
04:27pBiden administration working with Congress on 'deterrence' over Taiwan - White House
RE
04:26pPorsche will join Germany's blue-chip index - Deutsche Boerse
RE
04:23pProfit-taking weighs on TSX ahead of BoC rate decision
RE
04:05pBiden wants energy permitting attached to defense spending bill
RE
04:04pSudan generals and parties sign outline deal, protesters cry foul
RE
04:02pFDA ready to deal with drug shortages amid wave of respiratory illnesses -White House
RE
04:00pWall St drops as jitters over Fed rate hike policy return
RE
03:53pISS recommends one of Land & Buildings' director nominees at Apartment Investment and Management Co
RE
03:50pChatGPT: What is OpenAI’s chatbot and what is it used for?
RE
03:47pLibya's GNU says it lifted force majeure for oil & gas exploration
RE
Latest news "Economy"