Energy Stocks Boost Sentiment For Australian Markets

Australian stocks rose on Wednesday for the third straight day following the overnight gains on Wall Street and continued buying support on hope of progress being made between US and Chinese officials at trade talks in Beijing. Stocks in the energy sector continued to outshine given the firm momentum in the global crude oil prices. The WTI Crude oil futures edged up more than a percent today to hit three week highs above $50.60 per barrel. The S&P/ASX 200 Index edged up 1% to close at 5778.3 points, while the All Ordinaries Index rose 0.95% to end at 5838.4 points. S&P/ASX 200 Energy index spiked by nearly 2% on the day.Australian stocks rose on Wednesday for the third straight day following the overnight gains on Wall Street and continued buying support on hope of progress being made between US and Chinese officials at trade talks in Beijing. Stocks in the energy sector continued to outshine given the firm momentum in the global crude oil prices. The WTI Crude oil futures edged up more than a percent today to hit three week highs above $50.60 per barrel. The S&P/ASX 200 Index edged up 1% to close at 5778.3 points, while the All Ordinaries Index rose 0.95% to end at 5838.4 points. S&P/ASX 200 Energy index spiked by nearly 2% on the day. […]
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