Australian stocks have surged to a 4-week high

Photo by Adam Nurkiewicz/Getty Images

Australian stocks have jumped out of the blocks, smashing through the 5,800 level for the first time since January 12 in the process.

Here’s the early scoreboard after 40 minutes of trade:

  • ASX 200 5807.50 , 52.26 , 0.91%
  • All Ords 5858.10 , 47.21 , 0.81%
  • AUD/USD 0.7668 , 0.0008 , 0.10%

And here’s the ASX 200 hourly chart, showing the bullish price action at the start of trade.

ASX 200 Hourly Chart

And finally, here’s how individual sectors are faring.

  • A-REITS 0.54%
  • Consumer Discretionary -0.28%
  • Consumer Staples 0.64%
  • Energy 1.06%
  • Financials 1.67%
  • Healthcare -0.81%
  • Industrials 0.47%
  • Information Technology 1.62%
  • Materials 0.71%
  • Telecommunications -0.19%
  • Utilities -0.06%
  • All Ords Gold Index 0.28%

Financials are leading the charge higher, boosted by a record first half profit of $4.91 billion from the Commonwealth Bank, the largest individual company on the index.

It’s getting able support from energy and materials despite a mixed performance from commodity prices overnight.

Of other companies that have reported today, Wesfarmers are trading down 0.26% at $42.02 while Dominos has slumped 7% to $58.18.

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