ASX Opens 0.2pc Higher, Buoyed by Gains across the Materials and Energy Sectors
australian financial review2022-05-17
The S&P/ASX 200 added 0.2 per cent, or 16.4 points, to 7109.4 in the opening minutes of trade, buoyed by gains across the materials and energy sectors which offset losses posted by technology and healthcare stocks.
Brambles declined 6.7 per cent to $10.82 after confirming that takeover talks with CVC Capital have ended due to “external market volatility”.
James Hardie firmed 1.1 per cent to $39.42 following its full-year results.
Miners benefited from the rising iron ore price; Fortescue added 2 per cent to $19.34, Rio Tinto rose 2 per cent to $106.47 and Champion Iron firmed 3 per cent to $6.95.
The energy sector also advanced on the back of climbing oil prices; Santos rose 2.7 per cent to $8.31 and Woodside jumped 2.2 per cent to $31.18
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