Australian shares jump as US leaders strike provisional debt deal

<html xmlns=""><head><title>Australian shares jump as US leaders strike provisional debt deal</title></head><body>

May 29 (Reuters) -Australian shares rose on Monday in a broad-based rally, after U.S. President Joe Biden said a debt ceiling deal was ready to move to Congress for a vote, ending a months-long stalemate.

The S&P/ASX 200 index .AXJO advanced 1.1% to 7,220.80 by 0055 GMT, posting its biggest intraday percentage gain in nearly seven weeks. The benchmark shed 1.5% last week.

Heavyweight mining stocks .AXMM led gains on the bourse, rising 1.6%. Sector majors BHP Group BHP.AX and Rio Tinto RIO.AX gained 1.9% and 1.7%, respectively.

Financial stocks .AXFJ climbed 1.2%, with the so-called "big four" banks rising about 1.2% each.

U.S. President Joe Biden and House Speaker Kevin McCarthy on Saturday reached an agreement in principle to suspend the $31.4 trillion debt ceiling. Both leaders expressed confidence on Sunday that members of the Democratic and Republican parties will vote to support the deal.

The deal preventing the U.S. government from defaulting on its debt - which would have been a first in history - came after weeks of heated negotiations. It still needs to pass through a narrowly divided Congress before June 5.

Energy stocks .AXEJ rose as much as 1.5% to touch their highest level since early March after oil prices rose. O/R

Woodside Energy WDS.AX added 1.4% and Santos STO.AX advanced 1.3%.

In corporate news, AMP Ltd AMP.AX said Blair Vernon would take over from Peter Fredricson as its chief financial officer and its local wealth management arm would be dissolved in an attempt to simplify the organizational structure. Its shares gained 0.9%.

Shares of Leo Lithium Ltd LLL.AX rose as much as 14% to hit an all-time high after the lithium producer signed a deal with China's Ganfeng Lithium Group 002460.SZ to raise A$106 million and cooperate for the ramp-up of its Goulamina project.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.6% to 11,897.28.

Reporting by Ayushman Ojha in Bengaluru; Editing by Subhranshu Sahu

For more information on DIARIES & DATA: U.S. earnings diary RESF/US Wall Street Week Ahead .N/O Global Economy Week Ahead DATA/ ................................................................ For latest top breaking news across all markets NEWS1

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。