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S&P/ASX 200 closes 67 points higher led by gains in base and precious metals, as well as oil

The gold sector rallied more than 3% with Doray Minerals surging 12.5%.
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In the energy sector it was Origin Energy (ASX:ORG) that led the way, gaining 6.7%

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) closed up 67.8 points or 1.16% higher to 5,909 points.

Resources stocks led the way, and this was reflected in the circa 2.5% gains in the S&P/ASX 200 Energy (INDEXASX:XEJ) and Materials indices (INDEXASX:XMJ).

4.10pm: Gold shines brightest in resources sector

These sectors were only outdone by the S&PASX All Ords Gold index (INDEXASX:XGD) which surged 3.2%.

Notable performances came from Doray Minerals (ASX:DRM) and Resolute Mining (ASX:RSG) which were up 12.5% and 7.6% respectively.

In the energy sector it was Origin Energy (ASX:ORG) that led the way, gaining 6.7% after delivering a result that pleased investors.

S&P/ASX 200 (INDEXASX:XJO) has climbed 0.9% by mid-day and is trading at 5,893.

Mid-day: ASX200 is trading up 0.9% at 5,893

There are broad gains across the index at large but some big names drop earnings, including the likes of Telstra (ASX:TLS), South32 (ASX:S32) and Suncorp (ASX:SUN).

Telstra's net profit in the six months ended December 31 fell 4.9% to $1.7 billion from $1.8 billion in the previous corresponding period.

South32 reported a stronger than expected $684.2 million first-half underlying profit.

10.30am: ASX200 is trading up 0.8% at 5,889

Resources stocks have led the ASX shares higher in early trade as the global recovery continues, thanks in part to a 3.3% jump in BHP (ASX:BHP) shares.

Origin Energy (ASX:ORG) has been dragged into a first-half net loss due to write-downs on gas fields that it flagged, while underlying earnings jumped.

Home appliances company Breville Group Ltd (ASX:BRG) released a strong first half result, trading up 5.3%.

Listed legal services company, IPH Ltd (ASX: IPH) has been sold down heavily after investors were clearly not pleased with the half-year result.

IPH was down over 20% this morning, trading as low as $4.03.

Pre-market wrap: S&P/ASX 200 expected to jump 44 points on the back of strength in overseas markets

The S&P/ASX 200 is set to open higher following a strong overnight performance in all major overseas markets.

The Dow (INDEXDJX:DJI) was up 1% or 253 points, closing at 24,893 points.

 

 

The NASDAQ (NASDAQ:IXIC) was even stronger, rallying 1.9% to 7143 points on Wednesday.

The FTSE 100 (INDEXFTSE:UKX) gained 0.6% to finish at 7213 points.

READ: FTSE 100 and is in positive territory with precious metals miners leading the way

Markets in Germany and France were both up more than 1%.

Commodities could be the driver of Thursday

With precious and base metals surging overnight, and a 2.5% kick in the oil price, Australian stocks could receive most of their momentum from the resources sector.

The SPI futures are pointing to a gain of 44 points.

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December 13 2016

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