Australian shares track global peers higher on tech rally

Data#3

23/02/2024 01:01

Feb 23 (Reuters) - Australian shares rose on Friday,
tracking a broader rally in global peers, while strong
performances in domestic technology stocks and financials helped
offset losses in commodities.
    The S&P/ASX 200 index  .AXJO  rose 0.5% to 7,650.30 by 2355
GMT. The benchmark ended flat on Thursday.
    AI chipmaker Nvidia's  NVDA.O  stunning results sparked a
worldwide wave of record highs in equity markets in the previous
session.  MKTS/GLOB 
    Australian technology stocks  .AXIJ  tracked Wall Street
peers higher to jump as much as 2.7%, touching their highest
level since Jan. 6, 2022. The sub-index was also on track to
record a fourth weekly gain, if trend holds. 
    ASX-listed shares of Block Inc  SQ2.AX  surged as much as
17.1% to hit their highest level since Aug. 2 after the Jack
Dorsey-led payments firm forecast adjusted core earnings for the
current quarter above Wall Street estimates. 
    Financials  .AXFJ  advanced nearly 1% and were on track to
record a seventh straight weekly gain, with the "Big Four" banks
adding between 0.6% and 0.9%. 
    On the other hand, heavyweight miners  .AXMM  were down
0.1%, set for a third consecutive weekly loss. Still, BHP Group
 BHP.AX , Rio Tinto  RIO.AX  and Fortescue  FMG.AX  gained
between 0.2% and 0.7%. 
    Gold stocks  .AXGD  tracked bullion prices lower to slide as
much as nearly 3.2%, hitting their lowest level since Oct. 6,
2023. 
    Energy stocks  .AXEJ  fell 0.3% and were poised to end a
third week in the red. Woodside Energy  WDS.AX  lost 0.7%, while
Santos  STO.AX  gained 0.5%. 
    Among individual stocks, Brambles  BXB.AX  jumped as much as
4.7% to hit a record high after the supply chain logistics firm
reported an 18% jump in its half-year profit. 
    New Zealand's benchmark S&P/NZX 50 index  .NZ50  was up 0.1%
at 11,703.74.
    A Reuters poll showed the Reserve Bank of New Zealand will
hold its cash rate at a 15-year high of 5.50% on Feb. 28 and
wait until July at the earliest before beginning to reduce the
base cost of borrowing.
    

 (Reporting by Neha Soni in Bengaluru; Editing by Sherry
Jacob-Phillips)
 ((Neha.Soni@thomsonreuters.com))
 
((For more information on DIARIES & DATA:
 U.S. earnings diary   RESF/US   
 Wall Street Week Ahead    .N/O 
 Global Economy Week Ahead  DATA/ 
................................................................
For latest top breaking news across all markets           NEWS1 ))