Australia stock market finished the session slightly higher on Thursday, 01 June 2023, recouping some of the losses in the previous two sessions, as investors chased for bottom fishing, with shares in healthcare, technology, consumer goods, and retailer stocks being notable gains. Market risk sentiments underpinned on calming tension about a debt default by the world's largest economy after the US House of Representatives approved a deal to suspend the government's debt limit for two years.
At closing bell, the benchmark S&P/ASX200 index advanced 19.49 points, or 0.27%, to 7,110.80. The broader All Ordinaries index added 17.15 points, or 0.24%, to 7,290.70.
Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Health Care was the best performing sector, gaining +1.16%, followed by information technology (up 0.94%) and consumer staples (up 0.8%) sectors. Industrials was the worst performing sector, falling 0.3%.
The top performing stocks in the S&P/ASX 200 Index were PALADIN ENERGY and PERSEUS MINING, up 11.01% and 4.38% respectively. The bottom performing stocks in S&P/ASX200 index were IMUGENE and IDP EDUCATION, down 6.82% and 5.59% respectively.
ECONOMIC NEWS: The manufacturing sector in Australia continued to contract in May, albeit at a slower rate, the latest survey from Judo Bank revealed on Thursday with a manufacturing PMI score of 48.4. That's up from 48.0, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
CURRENCY NEWS: The Australian dollar stood at 0.6508 against greenback, up 0.08% from previous trading day closure at 0.6503 after trading between range of 0.6484-0.6520.
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