CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.40% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Miners, banks lift Australian shares to over two-month high

By Reuters_News

01:11, 11 August 2022

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A file photo shows a pedestrian reflected in a window where an investor sits looking at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia February 9, 2018.
A file photo shows a pedestrian reflected in a window where an investor sits looking at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia February 9, 2018.

- Australian shares hit a more than two-month high on Thursday, boosted by banking and mining stocks, a day after signs of sharply decelerating U.S. inflation raised hopes the Federal Reserve will become less aggressive on interest rate hikes.

The S&P/ASX 200 index .AXJO gained 0.9% to 7,056.20 by 0036 GMT, its highest level since June 9. The benchmark closed 0.5% lower on Wednesday.

In other key markets, Japan's Nikkei .N225 fell 0.7% to 27,819.33, while S&P 500 E-minis futures inched up 0.2%.

Data on Wednesday showed that U.S. consumer prices were unchanged in July, prompting bets that the Fed will likely hike rates at a slower pace than previously expected. MKTS/GLOB

In Australia, financials .AXFJ advanced 0.9%. The country's four largest banks added between 0.6% and 1.3%.

Miners .AXMM climbed 1% even as iron ore prices fell overnight due to uncertainty over demand prospects in top steel producer China. IRONORE/

Among heavyweights, BHP Group BHP.AX and Fortescue Metals FMG.AX gained 1.1%, each, while rival Rio Tinto RIO.AX tumbled 3.2% on trading ex-dividend.

Technology stocks .AXIJ tracked their Wall Street counterparts higher to rise 2.2%. The sub-index was on track to mark its best say since Aug. 4.

Software maker Xero XRO.AX and WiseTech Global WTC.AX were up 2.6% and 3.3%, respectively.

Wealth manager AMP Ltd AMP.AX retreated 2.6%, following a drop of nearly a quarter in its half-year profit.

BTC/USD

19,310.75 Price
+0.160% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 60.00

Natural Gas

6.94 Price
-0.580% 1D Chg, %
Long position overnight fee -0.1437%
Short position overnight fee 0.1041%
Overnight fee time 21:00 (UTC)
Spread 0.020

Oil - Crude

79.31 Price
-2.390% 1D Chg, %
Long position overnight fee 0.0226%
Short position overnight fee -0.0420%
Overnight fee time 21:00 (UTC)
Spread 0.03

XRP/USD

0.48 Price
-0.010% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 21:00 (UTC)
Spread 0.00600

James Hardie Industries JHX.AX advanced 2.1%, after the Australian building materials giant said it was in the final stages of selecting a new chief executive officer.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.6% to 11,821.52.

The country's house prices fell in July with the median price recording its first annual fall since 2011, the Real Estate Institute of New Zealand said.

 

 

 

 

 

Reporting by Upasana Singh; Editing by Rashmi Aich

What You Need to Know

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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