Shining gold stocks lead Australian shares higher

SGH

11/02/2025 24:39

Feb 11 (Reuters) - Australian shares rose on Tuesday, as gold miners hit an all-time
high after the bullion's record rally, while other sectors also gained in broad-based buying and
investors remained focused on earnings reports from several heavyweight companies.
    The S&P/ASX 200 index  .AXJO  rose 0.2% to 8,502.9 points by 0008 GMT. The benchmark fell
0.3% on Monday.
    On the broader market, gold miners  .AXGD  gained as much as 2.6% to hit a record high. 
    Gold prices continued their record rally and broke through the key $2,900 level for the
first time, driven by safe-haven demand.  GOL/ 
    Northern Star Resources  NST.AX  gained 3.1%, while Evolution Mining  EVN.AX  was up 2.5%.
    Financials  .AXFJ  rose 0.1% with lender Westpac  WBC.AX  rising 0.5%. 
    The country's largest asset manager Macquarie  MQG.AX  rose 1.7% after posting a largely
flat nine-month profit. Investors will now look out for earnings from Commonwealth Bank of
Australia  CBA.AX , due Wednesday.
    Energy firms  .AXEJ  gained 0.6% as oil prices shot up nearly 2% on Monday after posting
their third successive week of losses.  O/R 
    Brent crude futures  LCOc1  settled at $1.21, or 1.6%, at $75.87 a barrel, while U.S. West
Texas Intermediate crude  CLc1  rose $1.32, or 1.9%, to $72.32 a barrel.
    Healthcare sector  .AXHJ  jumped 0.4%, driven by biotech giant CSL  CSL.AX , which was up
1.7% after posting a rise in its half-year profit.
    Overnight, the U.S. Dow Jones Industrial Average  .DJI  rose 167.01 points, or 0.38%, at
44,470.41 points on Monday. The S&P 500  .SPX  gained 40.45 points, or 0.67%, while Nasdaq
 .IXIC  gained 190.87 points, or 0.98%.
    Among individual stocks, diversified investor SGH  SGH.AX  jumped as much as 9.4% to its
record high after first-half earnings comfortably beat analysts' estimates.
    New Zealand's benchmark S&P/NZX 50 index  .NZ50  rose 0.2% to 12,898.8 points.
    
             

 (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Alan Barona)
 ((aaditya.govindrao@thomsonreuters.com))
 
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