Australian share markets closed higher on Wednesday in Sydney, driven by strength in the Metals & Mining, Materials and Financials sectors.
The S&P/ASX 200 finished the session up 1.30%.
Among individual performers, Infratil Ltd (ASX:IFT) was the session leader, jumping 14.10% or 1.48 points to close at 11.98, marking an all-time high for the stock. Liontown Resources Ltd (ASX:LTR) added 6.69% or 0.16 points to end at 2.55, while IGO Ltd (ASX:IGO) rose 6.60% or 0.50 points to finish at 8.08.
On the downside, Magellan Financial Group Ltd (ASX:MFG) declined 8.20% or 0.79 points to close at 8.84. Retailer JB Hi-Fi Ltd (ASX:JBH) fell 5.79% or 4.51 points to 73.36, and Lottery Corporation Ltd (ASX:TLC) slipped 5.66% or 0.32 points to 5.26.
Market breadth across the Sydney Stock Exchange favoured advancers, with 643 stocks rising versus 496 that fell, and 411 finishing unchanged.
The measure of option-implied volatility for the S&P/ASX 200, the S&P/ASX 200 VIX, moved lower by 4.54% to 12.27, reaching a one-month low.
Commodities and FX
Commodities displayed mixed performance. Gold futures for June delivery climbed 2.36% or 107.66 to $4,676.16 a troy ounce. In contrast, crude oil for June delivery fell 1.81% or 1.85 to $100.42 a barrel, while the July Brent contract dropped 1.67% or 1.84 to trade at $108.03 a barrel.
Currency markets saw the Australian dollar strengthen against the U.S. dollar, with AUD/USD up 0.95% to 0.72. AUD/JPY was slightly lower, down 0.10% to 113.31. The U.S. Dollar Index futures fell 0.37% to 97.94.
Takeaways
- The S&P/ASX 200 advanced 1.30% on broad gains concentrated in Metals & Mining, Materials and Financials.
- Infratil led individual stock performance, rising 14.10% to an all-time closing high of 11.98.
- Volatility eased as the S&P/ASX 200 VIX declined to a one-month low of 12.27, while commodities moved in opposite directions - gold up sharply and oil lower.
Market context and note
Price action on the day reflected sectoral leadership in resource- and finance-related names, with notable single-stock moves both to the upside and downside. Commodity prices and currency shifts provided an additional backdrop to equity performance during the session.