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Australian shares edge higher as healthcare, staples offset miners
Australian shares rose a little on Monday.
Healthcare and grocery companies helped lift the market.
CSL gained more than 1.5%, while Woolworths and Coles also rose.
Mining companies fell because prices for iron ore and copper weakened.
BHP and Rio Tinto both lost ground.
Oil prices climbed after attacks in and around the Gulf raised concerns about supplies.
Technology and bank shares also moved higher.
Shares in FleetPartners reached a record high after several bidders increased their offers.
The main Australian index was still recovering from its lowest close in more than two months.
The S&P/ASX 200 rose 0.1% to 8,748.4 by 1207 GMT on Monday.
Healthcare stocks gained 1%, led by a more than 1.5% rise in CSL.
Consumer staples advanced 0.4%, with Woolworths and Coles each gaining more than 1%.
Mining stocks fell 0.5% for a fourth straight session as iron ore and copper prices weakened.
Oil prices rose more than 2% after weekend attacks increased supply concerns and reduced risk appetite.
- Who
- Australian companies and investors, including healthcare, staples, mining, technology and banking stocks.
- What
- The S&P/ASX 200 edged 0.1% higher as gains in healthcare and consumer staples outweighed mining losses.
- Where
- Australia; the article also reports gains in New Zealand.
- When
- Monday, September 14, with the index measured at 1207 GMT.
- Why
- Healthcare and staples rose, while higher oil prices supported energy stocks; weaker iron ore and copper prices pressured miners.
Key facts
- S&P/ASX 200
- Up 0.1% at 8,748.4 by 1207 GMT.
- Healthcare stocks
- Rose 1%, with CSL gaining more than 1.5%.
- Consumer staples
- Rose 0.4%; Woolworths and Coles each gained more than 1%.
- Mining stocks
- Fell 0.5%, extending losses to a fourth consecutive session.
- Oil prices
- Jumped more than 2% after weekend attacks and supply concerns.
- FleetPartners
- Reached a record high after three active bidders submitted higher offers.
- New Zealand market
- The S&P/NZX 50 rose 0.6% to 13,658.14.
Sources
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