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Miners, tech stocks lift Australia shares; South32 soars

10/13/2021 | 09:07pm EST

Oct 14 (Reuters) - Australian shares edged higher on Thursday, driven by gains in metal-centric and tech stocks, while diversified miner South 32 surged to a three-year high on buying a stake in a Chilean copper mine.

The S&P/ASX 200 index rose 0.79% to 7,329.7 points by 0019 GMT. The benchmark dipped 0.1% on Wednesday.

Major Aussie miners rose 1.65% on the back of strong prices of zinc, copper and aluminium due to a power shortage in China.

BHP Group and Rio Tinto jumped as much as 1.4% each.

Shares of South32 Ltd jumped 11.5% and headed for their best day in 1-1/2 years as the company agreed to buy a 45% stake in the Sierra Gorda copper mine in Chile for $1.55 billion.

Australian technology stocks rose 2.23%, tracking overnight gains on Nasdaq, where big growth names like Amazon.com and Microsoft provided much of the momentum.

WiseTech Global Ltd, which provides software for logistics companies, added 4.2% to be the top gainer on the sub-index. Software provider Iress Ltd rose 3.3%.

CSL Ltd climbed 1.7% after the biotech giant confirmed its commitment to produce roughly 50 million doses of AstraZeneca's COVID-19 vaccine into 2022. Media reports had earlier said AstraZeneca's shot would no longer be made in Australia.

Gold stocks rose 2.96% as bullion prices neared a one-month peak overnight, helped by a pullback in the dollar and U.S. Treasury yields.

Gold miner Dacian Gold Ltd led gains on the sub-index, rising 7.32%, followed by Pantoro Ltd rising 6.1%.

New Zealand's benchmark S&P/NZX 50 index rose 0.63% to 13,107.3. Elsewhere, S&P 500 E-minis futures were up 0.27%. (Reporting by Riya Sharma in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.18% 3437.36 Delayed Quote.5.54%
ASTRAZENECA PLC -0.58% 8187 Delayed Quote.12.38%
BHP GROUP -0.48% 39.71 End-of-day quote.-6.41%
CSL LIMITED -1.26% 305.3 End-of-day quote.7.81%
DACIAN GOLD LIMITED 0.00% 0.205 End-of-day quote.-50.00%
IRESS LIMITED -2.14% 12.36 End-of-day quote.16.49%
MICROSOFT CORPORATION -0.18% 329.49 Delayed Quote.48.14%
PANTORO LIMITED -8.70% 0.315 End-of-day quote.43.18%
SOUTH32 LIMITED 1.09% 3.71 End-of-day quote.50.20%
WISETECH GLOBAL LIMITED -1.03% 51.79 End-of-day quote.68.42%
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