Australian shares gain for 5th day on Wall Street rally, Brexit optimism

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[BENGALURU] Australian shares ended higher for a fifth straight session on Wednesday, buoyed by gains in financial and energy stocks, as upbeat US corporate results and hopes of a potential Brexit deal boosted risk appetite. Read more at The Business Times.

[BENGALURU] Australian shares ended higher for a fifth straight session on Wednesday, buoyed by gains in financial and energy stocks, as upbeat US corporate results and hopes of a potential Brexit deal boosted risk appetite.

Australia's financial index, which has the biggest weightage on the benchmark index, climbed as much as 1.7 per cent, marking its best session in more than a month.Gains in the financial sector were led by the country's"Big Four" banks, which added between 1 per cent and 1.5 per cent.Meanwhile, strength in global crude prices on signals of possible further supply curbs lifted energy stocks 1.3 per cent higher, with index heavyweights Santos Ltd and Oil Search rising 1.

Gold stocks skid as much as 2.8 per cent to their weakest level since July 3, as a broader risk-on sentiment capped the bullion's gains.

 

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