Market Commentary - Foreign Markets
Australian Stocks Hit Record High Led By Banks And Miners As on : 15-Jul-24  17:38

Australian markets rose notably to hit record highs today, with banks and miners leading the surge after a strong finish on Wall Street Friday.

The benchmark S&P/ASX 200 jumped 0.73 percent to 8,017.60 while the broader All Ordinaries index closed up 0.69 percent at 8,262.40.

Miners gained 0.7% on the back of improving copper prices. BHP Group and Rio Tinto rose 0.9% and 0.4%, respectively, ahead of their quarterly production results later in the week.

Energy stocks advanced 0.9%, with Woodside Energy and smaller rival Santos up 1% and 0.6%, respectively.

Healthcare stocks climbed 1.1% to hit the highest level since early January 2022. Biotech giant CSL and Ramsay Health Care rose more than 1% each.

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