The Australian sharemarket finished slightly higher on Wednesday after an early lift from third-quarter gross domestic product (GDP) figures faded, tempering optimism that the Reserve Bank of Australia may still have room to cut interest rates next year.
The S&P/ASX 200 added 15.5 points or 0.2% to 8,595.2, with eight of the 11 sectors ending in positive territory.
Fresh data from the Australian Bureau of Statistics showed the economy expanded by 0.4% in the September quarter, undershooting expectations.
Annual growth, however, edged up to a two-year high of 2.1%.
Utilities were among the strongest performers, led by a 3% gain in AGL. Meridian Energy added 2.5%, Origin Energy gained 0.2% and Infratil advanced 0.6%.
Real estate names were well supported, with Goodman Group up 1%, Charter Hall gaining 1.1%, and Stockland closing 1.4% higher.
Financials were mostly firmer, with NAB adding 0.7%, Westpac up 0.8% and ANZ gaining 1.5%. Commonwealth Bank eased 0.1%.
In corporate news, Betmakers rallied 12.9% after reporting stronger digital wagering activity and renewing its distribution agreement with U.S.-based Penn Entertainment.
4DMedical climbed 16% after expanding its partnership with Philips, securing at least US$10 million (A$15 million) in CT:VQ orders over the next two years.
On the bond markets, yields continued to rise, with the 10-year climbing 0.6% to 4.647% and the 2-year up 1.2% at 3.914%.
