Market Commentary - Foreign Markets
Australian market soar as mining stocks dominate As on : 16-Aug-24  16:36

Australian markets recorded their sixth straight session of gains, with miners leading the surge. BHP, Rio Tinto and Fortescue Metals Group rose as a latest spike in COMEX Copper above $4 per pound market boosted mining shares. The benchmark S&P/ASX 200 ended 1.34 percent higher at 7,971.10, adding to recent array of gains. All sectors were in positive territory. Meanwhile, Reserve Bank of Australia (RBA) governor Michele Bullock has doubled down on her latest comments that interest rate cuts are unlikely in the near term at a parliamentary hearing in Canberra.

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