Australian Shares Edge up Led by Materials Stocks

AFR2022-03-18

Australian shares edged up 0.2 per cent, or 13.7 points, to 7264.5 in early trade, led by increases in the materials and utilities sectors.

Higher commodity prices, from oil to iron ore, gas and wheat sent energy and mining stocks higher. Paladin Energy jumped 7 per cent to $0.840.

Abacus Property Group was the largest laggard, retreating 5 per cent to $3.38 following the completion of a $200 million placement through the issue of approximately 59.2 million new stapled securities at an offer price of $3.38 per share.

Qube Holdings fell 0.3 per cent to $3.0 after the ACCC said it was concerned about potential impacts on the supply chain for bulk grain export through the Port of Newcastle.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Looyusooi
    2022-03-18
    Looyusooi
    Ok
  • koolgal
    2022-03-18
    koolgal
    Another fabulous day with the ASX hitting new highs.  Australia is in a winning position with its commodities especially the iron ore, minerals.  Aussie Aussie Oi Oi Oi! 🚀🚀🚀🌙🌙🌙
  • Abundance Thankful
    2022-03-18
    Abundance Thankful
    Wow
  • Mindthink
    2022-03-18
    Mindthink
    Ok
  • WJ77
    2022-03-18
    WJ77
    👍
  • pjetan
    2022-03-18
    pjetan
    🙏🏻
Leave a comment
21