Australia Market ends marginally higher

Australia stock market finished session slightly higher on Friday, 09 February 2024, following a positive lead from Wall Street overnight and after Reserve Bank of Australia Governor Michele Bullock said there is some way to go to meet the central bank's inflation target, with gains in tech, pharma, and telecon related stocks offset losses in energy and materials.

At closing bell, the benchmark S&P/ASX200 index advanced 5.59 points, or 0.07%, to 7,644.84. The broader All Ordinaries index climbed up 9.53 points, or 0.12%, to 7,884.70.

Total 6 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.12%, followed by healthcare (up 1.1%), and telecommunication services (up 0.8%). Energy was the worst performing sector, falling 1.32%, followed by utilities (down 0.86%).

 

The top performing stocks in S&P/ASX200 index were LIONTOWN RESOURCES and BORAL., up 10.40% and 8.32% respectively. The bottom performing stocks in S&P/ASX200 index were BOSS ENERGY and PALADIN ENERGY, down 12.69% and 7.02% respectively.

Construction materials company Boral (up 8.3%) surged after it upgraded its earnings guidance, citing strong volumes, price rises pushed through to customers and effective cost management.

CURRENCY NEWS: The Australian dollar rose 0.03% against the US dollar, fetching 64.94 US cents.

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