The benchmark S&P/ASX 200 rose 1.3 per cent, or by 90.9 points to 7309.9 led by gains in all but one of the 11 sectors at market close on Tuesday.
Australian shares traded firmer on Tuesday with the benchmark index climbing 1.3 per cent as 10 out of 11 sectors finished higher at the market’s close. IT was the laggard, slipping 0.1 per cent.P/ASX 200 rose 90.9 points to 7309.9, with the materials sector performing the best, gaining 2.2 per cent.Newmont’s pitching of a revised takeover offer.
Rare earths group Arafura shares rose 2.1 per cent to 49¢ after signing an offtake agreement to supply neodymium and praseodymium to German industrials giant Siemens for up to five years.GQG Partners shares gained 1.5 per cent to $1.40 after its funds under management climbed in March to $US94.5 billion in March, from $US90.8 billion at the end of February. The firm reported net flows $US5 billion during the quarter.
Evergreen Lithium owns the rights to explore the Bynoe lithium project and Fortune lithium project in the Northern Territory, alongside the Kenny project in Western Australia.Shares in engineering and construction company Lycopodium increased 5.2 per cent to $9.10. The company updated its full-year guidance, noting it sees ongoing high levels of activity across all operating sectors.
“The non-executive directors, noting the recent deterioration in Bubs financial performance over the half year, considered that the time is right for a change in leadership and to change the governance framework of the company to ensure that it aligns with ASX corporate governance principles and best practice,” a company statement said.Goodman Group shares rose 1.5 per cent to $19.14. The company appointed George Zoghbi as an independent director of the company.
Iron ore futures traded higher on the Singapore index during the late afternoon session, rising 0.2 per cent to $US119.95 a tonne.Bitcoin climbed above $US30,000 for the first time since last June, rallying more than 80 per cent since the start of the year. Bitcoin is down more than 50 per cent from its all-time high in November 2021.
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