Australia’s sharemarket kicked off the day on a positive note, spurred by a strong performance on Wall Street and a rebound in the mining sector.
At 11:50am, the S&P/ASX 200 is 0.63 per cent higher at 8,335.20. This increase was driven by gains in the energy and materials sectors, bringing the index closer to its record high of 8,355.9.
The SPI futures are pointing to a rise of 48 points.
Best and worst performers
The best-performing sector is Energy, up 1 per cent. The worst-performing sector is Information Technology, down 2.46 per cent.
The best-performing large cap is Evolution Mining (ASX:EVN), trading 3.27 per cent higher at $5.205. It is followed by shares in Pilbara Minerals (ASX:PLS) and GQG Partners (ASX:GQG).
The worst-performing large cap is Mineral Resources (ASX:MIN), trading 12.49 per cent lower at $40.13. It is followed by shares in WiseTech Global (ASX:WTC) and Mercury NZ (ASX:MCY).
Commodities and the dollar
Gold is trading at US$2738.60 an ounce.
Iron ore is1.4 per cent higher at US$101.15 a tonne.
Iron ore futures are pointing to a 0.39 per cent rise.
One Australian dollar is buying 67.07 US cents.