Oct 20 (Reuters) - Australian shares rose on Wednesday as
metal-centric stocks jumped on firm commodity prices, while
global miner BHP hit a one-month high after topping billionaire
Andrew Forrest's bid for nickel miner Noront Resources.
The S&P/ASX 200 index rose about 1% to 7,447.3 by
Miners were the biggest boosts on the local bourse,
climbing 1.6%, after benchmark iron ore prices recovered from
four consecutive sessions of losses overnight to gain up to
The country's big mining names BHP Group, Rio
Tinto and Fortescue Metals pushed the
sub-index higher, climbing between 2.3% and 2.4%.
Global miner BHP also topped a takeover offer for Canadian
nickel miner Noront Resources by Forrest's Wyloo Metals
earlier this week, increasing its offer to C$419.3 million
($339.27 million), or C$0.75 per share.
Online retailer Kogan.com was the top gainer on the
local bourse, rising 9.8% to hit its highest in over 1-1/2
months after reporting an increase in gross sales during the
The Australian tech index rose 1.9%, tracking Wall
Street, which enjoyed the biggest boosts from the technology
Software provider for logistics firms WiseTech Global
led gains on the sub-index, advancing 2.8%, while
sub-index favourite Afterpay added 2.4%, hitting the
highest in over three weeks.
Oil and gas explorer Beach Energy declined up to 5%
to mark its worst day in nearly three weeks after reporting a
15.7% dip in first-quarter production.
New Zealand's benchmark S&P/NZX 50 index rose 0.5%
($1 = 1.2359 Canadian dollars)
(Reporting by Riya Sharma in Bengaluru; editing by Uttaresh.V)