Australian Sharemarket Rises as Wall Street Sees Best Day in Six Weeks

The Australian sharemarket rose by 30.7 points, or 0.4%, to 8763.1 in early trade, following Wall Street's best day in six weeks.

The S&P/ASX 200 added 0.4% on Thursday, with mining stocks mixed and energy stocks down due to falling oil prices.

RBA chief Michele Bullock stated that Australia's central bank board needs to decide whether its benchmark interest rate is sufficient to restrain price pressures and return inflation to target.