The S&P/ASX 200 Index rallied 1.3 per cent to 6806.4. New Hope shares rose 8.8 per cent to a record close $5.94.
New Hope helped carry the market to a 1.3 per cent gain on Tuesday as the coal miner rallied 8.8 per cent to a record close.more than tripled the miner’s previous record and let it declare a 31¢ fully franked final dividend, and a 25¢ special dividend worth $466.1 million.The result created positive spillovers for cross-shareholdings linked to the Washington H. Soul Pattinson group of companies.
IDP Education rose 2.3 per cent to $28.27 after it planned to acquire student placement agency Intake Education for as much as $83 million. Intake has operations across Nigeria, Ghana, Kenya, the Philippines, Thailand, Taiwan, India and the UK. Fortescue Metals will spend $US6.2 billion on renewable energy projects to save more than $1 billion in costs a year and hit its 2030 net-zero emissions target. Fortescue fell 0.9 per cent to $17.30.
The RBA purchased a total of $224 billion of federal government debt and $57 billion of state government debt.
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