SYDNEY, AAP – Materials and energy shares were keeping the ASX higher for a third straight day after commodity prices rose and the oil price increased to more than $US100 per barrel.
The market was up 0.14 per cent on Friday after Wall Street remained buoyant a day after the US Federal Reserve increased rates for the first time since 2018.
ASX materials and energy shares were each higher by one per cent as iron ore and oil prices climbed.
The commodity price rises came after Russia played down the prospect of peace in its talks with Ukraine. Vladimir Putin’s troops continue to wage war on their neighbours.
Technology shares were also one per cent higher. Afterpay owner Block jumped seven per cent to $169.33.
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There were plenty of share categories with losses. The consumer categories, industrials, health care, financials, telecommunications and property were each down less than one per cent.
The benchmark S&P/ASX200 index was up 10.3 points, or 0.14 per cent, to 7261.1 points at 1200 AEDT.
The index is down about 400 points from its record high in August last year.
The All Ordinaries index was higher by 14.6 points, or 0.19 per cent, to 7536.2 points.
The market is not doing as well as the lead from the US, however, where stocks closed about one per cent higher.
In ASX news and moves, casino operator Star fell after revelations a day earlier that the business disguised $900 million in transactions from China Union Pay as hotel expenses to help guests dodge controls over using the money for gambling.
The NSW Independent Liquor & Gaming Authority inquiry is investigating whether The Star Sydney has been infiltrated by criminals and is fit to keep its casino licence.
Star was down three per cent to $3.18.
The competition watchdog will not take action over logistics company Qube’s purchase of the Newcastle Agri Terminal in NSW.
Qube completed its purchase last year before the ACCC could consider its repercussions for the market.
The ACCC said it would monitor the situation.
Qube was down half a per cent to $2.99.
Commonwealth Bank boss Matt Comyn has sold some of his shares in the bank and collected $1.4 million.
Mr Comyn sold 13,520 shares for $103.40 each.
The bank was down about half a per cent to $105.65.
NAB and Westpac were down by a similar measure. Westpac was little changed at $23.69.
In mining, Rio Tinto was one of the best and higher by two per cent to $110.94. BHP and Fortescue were each up one per cent.
The Australian dollar was buying 73.82 US cents at 1200 AEDT, higher from 73.15 US cents at Thursday’s close.
