Tech and energy lead solid gains for Aussie share market

0 Comment(s)Print E-mail Xinhua, August 19, 2019
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SYDNEY, Aug. 19 (Xinhua) -- The Australian share market finished firmly higher on Monday, with tech and energy stocks kicking off a solid start to the trading week.

At the market close the benchmark S&P/ASX 200 index was up 61.90 points or 0.97 percent at 6,467.40, while the broader All Ordinaries index was up 64.60 points or 1 percent at 6,550.50.

Gains were almost across the board with index leaders, information technology up over 3 percent and energy improving over 2 percent.

Most other sectors were firmly higher with the exception of utilities and materials which dropped.

"Some of the biggest individual movers, in both directions, are in response to the release of profit results," Commsec market analyst James Tao said.

"The most improved stock of the top 200 is Smart Group (SIQ) which has jumped 21 percent. The fleet management & salary packaging firm announced its half year results after the market close on Friday."

In the financial space, Australia's big banks jumped with the Commonwealth Bank up (1.35 percent), Westpac Bank up (0.61 percent) the National Australia Bank up (0.59 percent) and ANZ up (1.14 percent).

Mining stocks were mostly higher with Fortescue Metals up (0.20 percent), BHP up (0.25 percent), Rio Tinto up (0.33 percent), however goldminer Newcrest was down (3.31 percent).

The country's oil and gas producers surged with Oil Search up (3.33 percent), Santos up (1.97 percent), and Woodside Petroleum up (1.38 percent).

Australia's largest supermarkets rallied with Coles up (0.46 percent), and Woolworths up (0.86 percent).

Meanwhile telecommunications giant Telstra dropped (0.27 percent), the national carrier Qantas bounced (1.81 percent) and biomedical firm CSL lifted (0.85 percent). Enditem

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