5:30 PM Sydney – Australian indexes traded higher and the Aussie dollar held firm after the RBA minutes of meeting suggested an easing bias. Rio Tinto said global iron ore production in the first-quarter increased by 12% shipment by 9%. Brambles estimate annual underlying profit to increase 13%.
Australian stocks opened higher after the Reserve Bank minutes of latest meeting in April showed an easing bias.
The central bank statement was widely interpreted as a possible easing as early as next meeting as long as the economic data suggest that the price pressure remain weak and in-line with expectations of the policymakers.
Australian dollar closed at 76.90 U.S. cents and in stock trading turnover rose to 655 million shares worth $4.5 billion.
At close, the ASX 200 Index jumped 39.20 or 0.7% to 5,872.30 and the broader All Ordinaries Index increased 37.20 to 5,844.
In commodities trading, gold plunged US$10 to US$1,195 an ounce and Brent crude slid 0.36 cents to close at US$63.09 a barrel.
Australian Stock Movers
slumped 2.4% to $11.04 after the logistics company reported total revenue in the third-quarter ending in March of US$4.04 billion and forecasted operating profit between US$1.06 billion to US$1.09 billion.
The third-quarter results are scheduled to release on April 21.
tumbled 30.1% to 29 cents after the biotechnology company plans to issue 98.7 million new shares at 30 cents per share and raise up to $30.50 million.
Oil Search Limited
fell 0.1% to $8.09 after the oil and gas explorer estimated total revenue for the three months to March to surge to US$472.3 million and reaffirmed its full-year production guidance between 26 million to 28 million barrels of oil equivalent.
Rio Tinto Limited
jumped 1.5% to $55.50 after the mining company reported total iron-ore shipment in first-quarter ending in March climbed 9% to 72.5 million metric tons from a year ago period but declined 12% from the previous quarter.
The company reaffirmed its full-year forecast for iron-ore shipments to nearly 350 million tons.
The miner said global iron ore production in the quarter soared 12% to 74.7 million metric tons but dropped 6% compared to fourth-quarter.
Sydney Airport Holdings Ltd
increased 0.5% to $5.37 and the airport operator said international traffic in March soared 8.9% from a year ago month.
The airport operator said travelers from India in March month climbed 7.5% on Lunar New year celebrations and the ICC Cricket World Cup.
Domestic traffic in the month jumped 4.2% on the Royal Easter show and Taste of Sydney festival.