SYDNEY, AAP – Shares on the ASX have set a record high despite Wall Street investors earlier worrying about US economic growth.
The ASX on Thursday rose to its greatest height, 7517.5 points, although gains were modest by 1200 AEST.
Consumer discretionary stocks were the biggest improver and up by 0.84 per cent.
The big four banks were all higher by less than one per cent.
However their gains were offset by materials shares, which dropped 0.61 per cent.
Energy shares had the greatest fall, 1.29 per cent.
The benchmark S&P/ASX200 index was higher by 12 points, or 0.15 per cent, to 7515.2.
The All Ordinaries was up 8.5 points, or 0.10 per cent, to 7787.2.
US stocks closed mostly lower after data showed jobs growth slowed in July.
Private payrolls increased by less than expected in July, likely constrained by shortages of workers and raw materials.
Meanwhile Federal Reserve Vice Chair Richard Clarida said the central bank should be able to begin raising interest rates in 2023.
He and three other Fed members also signalled a move to taper bond buying later this year or early next year, depending on the labour market.
On the ASX, furniture trader Nick Scali doubled its full-year profit but will not forecast its next lot of earnings due to coronavirus lockdowns.
The company revealed net profit after tax of $84.2 million.
Yet lockdowns across the nation this financial year have already stymied sales.
Shares traded for a record $12.96.
They were later higher by 0.4 per cent to $12.37.
Resolute Mining is selling a gold mine in Ghana for $US90 million.
Resolute is transferring the Bibiani mine to a company listed on the Canadian stock market, Asante Gold Corporation.
Shares in Resolute were up 4.95 per cent to 58 cents.
The major iron ore miners were all lower.
BHP fared worst and dropped 1.1 per cent to $53.46.
Bendigo Bank said it will release $19.4 million of funds set aside to cover bad debts from the pandemic.
This will help second-half earnings. The bank will give its full-year earnings on August 16.
Shares were even at $10.45.
Among the big four banks, the Commonwealth was faring best.
Its shares were higher by 0.91 per cent to $103.17.
Market giant and healthcare provider CSL was better by 0.54 per cent to $293.87.
The Australian dollar was buying 73.84 US cents at 1200 AEST, lower from 73.99 US cents at Wednesday’s close.