By Reuters Staff
2 Min Read
May 17 (Reuters) - Australian shares rose on Monday, driven by gold stocks on higher bullion prices, while Ampol and Viva Energy lifted the energy index after both fuel suppliers received a massive government funding to keep their refineries open.
The S&P/ASX 200 index was up 0.4% at 7,038.5 points, as of 0057 GMT. While the benchmark gained 0.5% on Friday, it clocked its biggest weekly drop since Feb. 26.
Energy stocks rose as much as 2.1% and eyed their best session in nearly two months, benefiting from a jump in Ampol Ltd and Viva Energy, while higher oil prices also helped.
It was a solid close for global equities last week, with European Bourses set to challenge record highs and Wall Street paring losses sustained earlier in the week.
Asian Open: Equities Rebound and Shake of Inflation Fears cityindex.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityindex.co.uk Daily Mail and Mail on Sunday newspapers.
Asian Open: Wall Street Breaks Three-Day Decline
Matt Simpson May 13, 2021 11:06 PM
Strong employment data saw a turnaround session on Wall Street to send equities higher and bond yields lower. Share:
Asian Futures:
Australia s ASX 200 futures are up 47 points (0.67%), the cash market is currently estimated to open at 7,029.70
Japan s Nikkei 225 futures are up 230 points (0.84%), the cash market is currently estimated to open at 27,678.01
Hong Kong s Hang Seng futures are up 196 points (0.71%), the cash market is currently estimated to open at 27,914.67
UK and Europe:
Europe s Euro STOXX 50 index rose 5.02 points (0.13%) to close at 3,952.45
Germany s DAX index rose 49.46 points (0.33%) to close at 15,199.68
France s CAC 40 index rose 8.98 points (0.14%) to close at 6,288.33
Crypto stocks track bitcoin dip after Tesla halts its use NZ50 ends in red for seventh straight session (Updates to close)
May 13 (Reuters) - Australian shares fell for a third session on Thursday, with miners and tech stocks leading losses, as accelerating inflation in the United States stoked concerns over sooner-than-expected rate hikes.
Tracking Wall Street’s slump overnight, the S&P/ASX 200 index closed 0.9% lower at 6,982.7.
Global markets were battered alike after U.S. consumer prices for April jumped the most in nearly 12 years. The report was closely watched by market participants to gauge the Federal Reserve’s policy direction even as it held on to a dovish tone.