Forex
Mining Stocks Fuel Australian Share Rally
Australian shares made a comeback after a shaky start on Wednesday, finishing higher thanks to a rebound in mining stocks.
The S&P/ASX200 rose by 24 points, or 0.28 per cent, to 8,696.5, while the broader All Ordinaries gained 25.2 points, or 0.28 per cent, to 8,874.5.
The recovery in metals prices was driven by a softer US dollar and lower US bond yields, which supported copper and gold prices. BHP saw its first positive session in a week, reclaiming the $60 per share level.
The energy sector also performed well, with shares in Woodside and Santos jumping over two per cent. However, oil prices remain volatile due to ongoing supply concerns.