Commodity gains drive Australian shares, dollar higher
from MoneyTrading.com.au
The Australian share market is continuing to gain ground after a positive lead from Wall Street and a rise in commodity prices. The market has also benefited from a $3.3 billion takeover offer for Arrow Energy by Royal Dutch Shell and PetroChina.
Arrow's shares were more than 45 per cent higher at $5.06 by 1:38pm (AEDT). The All Ordinaries Index was up 1 per cent at 4,820 just after 1:30pm, and the ASX 200 was up 43 points to 4,810. Firmer prices have pushed the gold miners higher, Lihir Gold was up 1.4 per cent at $2.95 and Newcrest has added 27 cents to $34.24.
The two biggest miners on the local market, BHP Billiton and Rio Tinto, have also climbed more than 2 per cent. And the Australian dollar has jumped almost a full cent from Friday's close to 91.10 US cents.
The Australian share market is continuing to gain ground after a positive lead from Wall Street and a rise in commodity prices. The market has also benefited from a $3.3 billion takeover offer for Arrow Energy by Royal Dutch Shell and PetroChina.
Arrow's shares were more than 45 per cent higher at $5.06 by 1:38pm (AEDT). The All Ordinaries Index was up 1 per cent at 4,820 just after 1:30pm, and the ASX 200 was up 43 points to 4,810. Firmer prices have pushed the gold miners higher, Lihir Gold was up 1.4 per cent at $2.95 and Newcrest has added 27 cents to $34.24.
The two biggest miners on the local market, BHP Billiton and Rio Tinto, have also climbed more than 2 per cent. And the Australian dollar has jumped almost a full cent from Friday's close to 91.10 US cents.
posted by Money Trading at
7:27 PM
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