The Australian sharemarket booked its third positive session on Thursday, posting its highest close in two weeks, buoyed by Utilities, Financials and Energy, while Information Technology dragged the most, with Staples weighing behind.
The benchmark S&P/ASX 200 index rose +22.8 points, or +0.31% to 7,387.6, while the All Ordinaries added +24.9 points, or +0.32%, to 7,707.5, while our local currency, the Australian dollar, is currently buying US$0.7238.
The “Fab Four” bank climbed with Commonwealth Bank advancing +0.3% to $100.11, while NAB rose +0.6%, to $28.71, ANZ added +0.6%, to $27.40 and Westpac rose +0.5%, to $21.18.
Meanwhile, Magellan Financial Group Ltd put in a firmer performance and rose +5.17% or 1.03 points and settled at $20.96, while Bega Cheese Ltd tumbled heavily, falling -10.32% or -0.58 points to $5.04 at the close.
Looking forward, U.S. November PCE inflation and Durable Goods Orders will be crucial to watch, which could trigger talks of a faster Fed rate hike, starting with early 2022.