Australia Shares Climb as Miners, Energy Stocks Rally; Woodseide Jumps on Upbeat Results

July 23 (Reuters) – Australian Shares rose on Wednsday LED by Miners and Energy Stocks, as Investors Stayed Cautious Ahead of the Looming Us Tariff Deadline, While Wodeside Energy Climbed Over 2% After Posting Stronger-That-Expected Second-Quarter Results.

The S & P/Asx 200 Index Rose 0.4% to 8,708.1 by 0031 gmt. The Benchmark Ended Flat at 8,677.20 points on Tuesday.

With an august 1 deadline for sweeping us import tarifs looming, investors await signs of reliaf, after washington annouched a trade deal with japan.

Australia faces a 10% baseline tariff on most expenses to the US

Meanwhile, minutes from the reserve bank of australia’s july meeting on tuesday showed a cautious stance in July, with board members deciding to keep the interesting rate unanged Against MARKET Expectations, Opstation To wait for more evidence of a sustained slowdown in inflation.

Local Miners LED the charge on the Benchmark by Rising as Much as 2.2%, Tracking a Rise in Iron Ore Pries.

Shares of Miners Fortscue WERE Up 2.4%, While BHP and Rio Tinto Gained 1.8% and 2.7% Respectively.

Energy Stocks Climbed 0.8% Due to Rising Oil Pries.

Woodseide energy’s shares outpaced the broader sub-India, and was up 2.4%.

The country’s top gas producer reported a stronger-that-expected 8% Rise in Second-Quarter Revenue.

Gold stocks also rose 2.2%, tracking a surge in bullion price.

Shares of Gold Miners Northern Star Resources and St Barbara was up 2.6% and 2.4% respectively.

Countering Gains, The Financials Sub-Index Shed 0.2% with Shares of National Australia Bank and Commonwealth Bank of Australia Down 0.7% Each.

Information Technology Sub-Index also dropped 0.3%, with australian-listed shares of xero down 0.8%. Shares of Wisetech Global Fell 0.6%.

New Zealand’s Benchmark S & P/NZX 50 Index Fell 0.3% to 12,790.74.

(Reporting by Roshan Thomas in Bengaluru; Editing by Alan Barona)