What happened
The S&P/ASX 200 finished marginally higher up 0.09 per cent at 8,765.30 on Wednesday, while the S&P/ASX Small Ordinaries outperformed, rising 0.14 per cent to 3,422.90 and extending its five-day gain to 1.48 per cent. Materials and gold miners led large-cap risers, with Newmont climbing 3.88 per cent and Northern Star up 3.51 per cent, offsetting weakness in energy and utilities.
Why it matters here
Broad market indices remain constrained by banking and energy sector drag, but precious metals miners are benefiting from firm gold prices above US$4,390 per ounce. For local equity investors, stock selection and sector exposure are proving critical as broad index momentum stalls under economic headwinds.
What to watch
Australian labour market data released on Thursday and global gold price movements.
Source
samso.com.au