July 26 (Reuters) - Australian shares hit a fresh high on
Monday as mining stocks jumped more than 1%, while rare earth
producer Lynas hit its highest level since January 2013 after
reporting record quarterly revenue.
The S&P/ASX 200 had risen 0.2% to 7,408.30 points by
1247 GMT, extending gains to a fourth straight session.
Miners led the charge with a more than 1% rise, with
Lynas Rare Earths the biggest winner on the benchmark
Lynas on Monday reported a record fourth-quarter revenue as
robust demand led to a jump in sales of the metals it mines,
offseting weaker prices.
Wall Street indexes gained on Friday, driven by upbeat
earnings and signs of an economic revival.
At home, Victoria state on Monday reported fewer new
COVID-19 cases, raising hopes of an end to a lockdown as
planned, even as neighbouring New South Wales looked set to
extend its strict stay-home orders.
Capping gains in Australian stocks was the gold subindex
, which slipped 1.6% as bullion prices fell. De Grey
Mining and Resolute Mining declined 3.8% and
Energy stocks also gave up more than 1%, with
Whitehaven Coal and Ampol falling about 2%
Elsewhere, Japan's Nikkei was up 1.6% at 27,975.64
points, while the S&P 500 E-minis futures were down
Across the Tasman sea, New Zealand's benchmark S&P/NZX 50
index was down 0.1% at 12,722.50 points.
(Reporting by Tejaswi Marthi in Bengaluru; editing by Vinay