SYDNEY, AAP – The Australian share market is in positive territory midway through the session, with almost all sectors contributing to the rise after mixed trading on Wall Street overnight.
The benchmark S&P/ASX200 index rose 15.6 points, or 0.21 per cent, to 7584.8 on Thursday, backed by strength in energy, industrials and utilities.
The positive sentiment was not uniform, with technology and mining companies among the weaker performers.
Shares in BHP were down by 2.5 per cent to $50.99 after the big miner said its operations were hampered by labour shortages along with bouts of bad weather and the enduring impact of the pandemic. Production at its flagship Pilbara iron ore operations slipped in the March quarter.
Oil and gas producer Santos fared better on Thursday. Its share rose 1.46 per cent to $8.35 after it reported record revenue in the first quarter of 2022, underpinned by surging energy prices.
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Russia’s invasion of Ukraine has lifted oil and gas prices amid sanctions and disruptions to supply chains.
The US earnings season continues this week. Tesla beat analyst expectations, prompting a rise in its share price in after-hours trading. Meanwhile, shares in Netflix were sold down for a second session after the streaming service reported an unexpected decline in first-quarter net subscribers.
The Australian dollar was buying 74.33 US cents at 1200 AEST, compared with 74.05 US cents at noon on Wednesday.