Australia Market closes 0.36% up on oil, metals lift

Australia stock market finished session slight higher on Monday, 07 May 2018, with gains in shares of materials and resources and energy issues were more than offset by weakness in banks and financials. Investors risk sentiments were largely muted on caution ahead of the 2018 budget on Tuesday. The government has promised tax cuts for lower income earners and flagged multibillion-dollar infrastructure spending. The S&P/ASX 200 index rose 0.36% or 21.6 points to 6,084.5 at the close of trade. Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 644 to 541 and 384 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 0.40% to 11.706.

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