The Australian share market made its biggest one-day gain in a month, closing higher on Tuesday.
The Aussie share market peaked above the 7000 threshold on Tuesday after the US Federal Reserve signalled an easing of its interest rate strategy.It was buoyed by a positive lead on Wall Street following the US Federal Reserve signalling it may not need to raise its benchmark interest rate again on November 1.
Across the local benchmark, all 11 sectors finished in the green, with interest rate and bond yield sensitive utilities stocks the star performer, rising 4.2 per cent. The sector rallied after Origin Energy stocks jumped 5.5 per cent to $9.21 on news the Australian Competition and Consumer Commission had approved the $18.7bn buyout buy a Brookfield-led consortium for the electricity and gas wholesaler.
Dr Oliver warned that if other nations in the Middle East were drawn into the conflict, oil prices would likely jump higher. Photo: MAHMUD HAMS / AFP. ANZ senior economist Adelaide Trimbell said the business conditions survey showed most cost and price measures were now at their weakest level since late 2021.
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