Australian shares traded slightly higher on Wednesday, notching a fresh three-month peak, with losses in financial and consumer heavyweight stocks offsetting strength in the energy and technology sectors.
The S&P/ASX 200 added 10.6 points or 0.1% to 8,279.6. Six of 11 sectors posted gains, led by Energy and Information Technology.
Energy companies extended their recent rally following a 2.5% surge in Brent crude prices overnight to US$66.55 per barrel.
Woodside Energy gained 3.4% after revealing that Aramco is considering an equity stake in its Louisiana LNG project, as the two companies explore collaboration on low-carbon ammonia. Ampol also added 1.7%.
In the technology sector, TechnologyOne and NextDC rose 0.3% and 1%, respectively, while WiseTech Global dipped 0.6%.
Life360 led the market, jumping 9.5% to extend Tuesday’s rally.
In the banking sector, Commonwealth Bank edged up 0.8% after delivering quarterly earnings that aligned with forecasts.
ANZ and National Australia Bank followed with modest gains of 0.1% and 1.4%, respectively, while Westpac closed 1.2% lower.
Macquarie Group fell 1.6% after corporate regulator ASIC announced it would sue its securities unit over alleged short-selling misreporting.
Meanwhile, Aristocrat Leisure plunged 8.9% after the gaming firm’s half-year results missed expectations.
Insignia Financial recorded the day’s steepest loss, tumbling 15.8% after Bain Capital withdrew its takeover offer.
Bond market yields were higher across the curve, with 10-year and 2-year bond rates up 0.4% and 0.3% to 4.476% and 3.569%, respectively.
