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Stock impact report

Australia shares surge to 11-year high as miners soar; NZ hits record [Reuters]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Reuters
Australia shares surge to 11-year high as miners soar; NZ hits record - Reuters 3 Min Read * Benchmark hovers just shy of 6,400 resistance mark * Miners skyrocket as iron ore futures hit record high * Mining sub-index set for weekly gain of 5% * Financials set for over 3% weekly fall By Rashmi Ashok May 17 (Reuters) - Australia’s benchmark share index rallied to a more than 11-year high on Friday as soaring iron ore and oil prices coupled with a weaker local dollar bolstered mining and energy stocks. Growing expectations that the central bank could cut interest rates as soon as next month also continued to buoy investors’ confidence. The S&P/ASX 200 index was up 48.50 points or 0.8% at 6,376.30 by 0125 GMT, after climbing 1.1% earlier. The benchmark closed 0.7% higher on Thursday. “The action is being led by a very strong performance on base metals overnight. The odds of another interest rate cut after the election are also high, which makes high yielding stocks very attractive,” said Show less Read more
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