ASX Opens 1pc Higher, Driven By the Materials Sector

Australian Financial Review2022-04-28

Australian blue chips opened 1 per cent higher, placing the market on course to snap a two-day losing streak.

The gains were driven by the materials sector, which edged 2.3 per cent higher, followed by energy shares, which traded 1.4 per cent firmer in the opening minutes of trade.

All but two of the 11 sharemarket sectors opened higher with consumer staples falling 0.4 per cent as the worst performing sector.

Shares in AMP rocketed 6.3 per cent higher following news that it had offloaded the international infrastructure unit of Collimate Capital for $462 million.

Silver Lake Resources, however, fell 9.3 per cent after withdrawing its full-year guidance given staffing pressures had created a murky outlook for the fourth fiscal quarter.

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