ASX 200 hits record high of 9,296 points
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The S&P/ASX 200 reached an intraday record high of 9296.7 points during early Aug. 6 trading.
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Mining and banking stocks led the initial rally following gains on Wall Street overnight.
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Geopolitical progress regarding a potential US-Iran agreement continues to drive market expectations.
The S&P/ASX 200 surged to a record intraday high of 9296.7 points on Aug. 6 morning.
The early gain followed a record close on Wall Street driven by progress towards a US peace deal with Iran.
"Reports suggest the combatants are getting closer to an agreement that could see relations revert to what they were after the first memorandum of understanding,” said Capital.com senior market analyst Kyle Rodda.
Pantoro Gold (ASX:PNR) led individual stock gains, rising 9.5% following its conference presentation in Kalgoorlie-Boulder.
Following the announcement, the S&P/ASX 200 index was up at 9,270.3 points.
Heavyweight miners, including BHP (ASX:BHP) supported the broader market with gains above one per cent.
Iran and Oman reached an agreement on shipping routes through the Strait of Hormuz, easing energy market pressures.
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