Australian stocks snap three-day losing run

By Virginia Harrison, MarketWatch

SYDNEY (MarketWatch) —Australian shares closed firmly higher today to snap a three-session losing streak, after signs of strength in the global economy helped to revive risk appetite.

The benchmark S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.78%  ended the day at 4267.80, while the Australian dollar /zigman2/quotes/210560947/realtime/sampled AUDUSD -0.3725%  surged at one point to a level not seen since early September.

The Australian equity market performance tracked gains for European and U.S. shares yesterday where shares were boosted by the release of stronger global manufacturing data. Read more on U.S. Markets.

“Risky assets are reacting positively to resilient activity in China, signs of stabilization in Europe, and the ongoing recovery in the U.S.,” strategists at Barclays Capital said.

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In Australia, commodity-linked stocks were among the strongest performers as BHP Billiton Ltd. /zigman2/quotes/201448516/delayed AU:BHP +2.50%   /zigman2/quotes/208108397/composite BHP +0.83%  ended the day up 1.9%. The miner approved a $917 million pre-commitment for the construction of a 100 million metric tons a year iron ore export facility at Port Hedland.

Rio Tinto Ltd. /zigman2/quotes/200083756/delayed AU:RIO +2.46% /zigman2/quotes/202627887/composite RIO +0.72%  jumped 2.9% and gold miner Newcrest Mining Ltd. /zigman2/quotes/203840223/delayed AU:NCM +1.05%   /zigman2/quotes/206026738/composite NCMGF -0.91%  advanced 1.3%.

Shares in Lynas Corp. Ltd. /zigman2/quotes/202074955/delayed AU:LYC 0.00%  soared 19.1% after the rare 1earths miner was granted a temporary license for a refinery in Malaysia.

In the energy sector, Santos Ltd. /zigman2/quotes/207349564/delayed AU:STO -1.15%  rose 2.6% and Beach Energy Ltd. /zigman2/quotes/200513631/delayed AU:BPT +0.71%   /zigman2/quotes/209616278/composite BCHEY -3.59%  put on 1.4%.

Alumina Ltd. /zigman2/quotes/210515632/delayed AU:AWC -0.34%    advanced 1.6% and Bluescope Steel Ltd. /zigman2/quotes/201850153/delayed AU:BSL +1.77%  added 1.2% after base metals prices rose overnight following the robust manufacturing reports.

A lift in U.S. construction spending helped building products maker James Hardie Industries SE /zigman2/quotes/201411224/delayed AU:JHX -0.84%   /zigman2/quotes/200042563/composite JHX -0.60%  with shares surging 4.2%. Boral Ltd. /zigman2/quotes/208897707/delayed AU:BLD -1.68% /zigman2/quotes/202320023/composite BOALY +0.36%   traded 3.8% firmer.

Supermarket wars?

Moves were more muted for the supermarket operators, with Wesfarmers Ltd. /zigman2/quotes/204567133/delayed AU:WES +0.98%   /zigman2/quotes/201861689/composite WFAFY +0.63%  ending the day up 0.6% after the conglomerate reported second-quarter sales at supermarket chain Coles rose 6.7% on the previous year, while sales at discount department store operators Target and Kmart fell during the period.

Rival Woolworths Ltd. /zigman2/quotes/209906204/delayed AU:WOW -0.39%   WOLZY 0.00%  ended down 0.4%. The firm reported a 5% rise in first-half sales earlier this week.

Peter Esho, chief market analyst at City index said Coles’ food and liquor comparable sales growth is more than three times that of its main rival in the second quarter.

“Coles continues to drive volumes and customers away from Woolworths,” Esho said. “The war in supermarkets between Coles and Woolworths is only likely to continue ramping up,” he added.

CSL Ltd. /zigman2/quotes/206911412/delayed AU:CSL +0.98%   /zigman2/quotes/200723909/composite CMXHF +1.67%   and Brambles Ltd. /zigman2/quotes/200985667/delayed AU:BXB -0.07%   /zigman2/quotes/206869297/composite BMBLF +2.46%  weren’t able to join in the broader market rally, with CSL shares ending the day down 1.3% and Brambles shares closing 1.8% lower.

Stan Shamu at IG Index noted that both firms were being hurt by the high Australian dollar and said: “the high Aussie dollar remains a talking point down under, after AUD/USD broke to a new high today.”

The Australian dollar jumped to a level not seen since early September Thursday, following the release of stronger-than-expected monthly trade data. Read more on Australian dollar move

/zigman2/quotes/210598100/delayed

Add to watchlist AU:XJO

S&P/ASX 200 Benchmark Index

AU : S&P ASX

7,177.80

+55.50 +0.78%

Volume: 835,785

March 31, 2023 5:36p

/zigman2/quotes/210560947/realtime/sampled

Add to watchlist AUDUSD

Australian Dollar

US : Tullett Prebon

0.6686

-0.0025 -0.3725%

Volume: 0.0000

March 31, 2023 4:59p

/zigman2/quotes/201448516/delayed

Add to watchlist AU:BHP

BHP Group Ltd.

AU : Australia: Sydney

$ 47.23

+1.15 +2.50%

Volume: 14.16M

March 31, 2023 4:10p

P/E Ratio

8.51

Dividend Yield

8.38%

Market Cap

$233.39 billion

Rev. per Employee

N/A

/zigman2/quotes/208108397/composite

Add to watchlist BHP

BHP Group Ltd. ADR

US : U.S.: NYSE

$ 63.41

+0.52 +0.83%

Volume: 2.49M

March 31, 2023 4:00p

P/E Ratio

8.09

Dividend Yield

8.31%

Market Cap

$156.50 billion

Rev. per Employee

N/A

/zigman2/quotes/200083756/delayed

Add to watchlist AU:RIO

Rio Tinto Ltd.

AU : Australia: Sydney

$ 120.14

+2.89 +2.46%

Volume: 1.52M

March 31, 2023 4:10p

P/E Ratio

11.10

Dividend Yield

5.91%

Market Cap

$169.02 billion

Rev. per Employee

$1.49M

/zigman2/quotes/202627887/composite

Add to watchlist RIO

Rio Tinto PLC ADR

US : U.S.: NYSE

$ 68.60

+0.49 +0.72%

Volume: 4.22M

March 31, 2023 4:00p

P/E Ratio

8.88

Dividend Yield

7.16%

Market Cap

$113.33 billion

Rev. per Employee

$1.03M

/zigman2/quotes/203840223/delayed

Add to watchlist AU:NCM

Newcrest Mining Ltd.

AU : Australia: Sydney

$ 26.85

+0.28 +1.05%

Volume: 3.01M

March 31, 2023 4:10p

P/E Ratio

18.93

Dividend Yield

1.95%

Market Cap

$23.69 billion

Rev. per Employee

N/A

/zigman2/quotes/206026738/composite

Add to watchlist NCMGF

Newcrest Mining Ltd.

US : U.S.: OTC

$ 17.79

-0.16 -0.91%

Volume: 29,050

March 31, 2023 3:57p

P/E Ratio

17.87

Dividend Yield

1.97%

Market Cap

$15.89 billion

Rev. per Employee

N/A

/zigman2/quotes/202074955/delayed

Add to watchlist AU:LYC

Lynas Rare Earths Ltd.

AU : Australia: Sydney

$ 6.34

0.00 0.00%

Volume: 4.70M

March 31, 2023 4:10p

P/E Ratio

10.76

Dividend Yield

N/A

Market Cap

$5.92 billion

Rev. per Employee

N/A

/zigman2/quotes/207349564/delayed

Add to watchlist AU:STO

Santos Ltd.

AU : Australia: Sydney

$ 6.90

-0.08 -1.15%

Volume: 16.84M

March 31, 2023 4:10p

P/E Ratio

7.65

Dividend Yield

4.82%

Market Cap

$22.99 billion

Rev. per Employee

$3.21M

/zigman2/quotes/200513631/delayed

Add to watchlist AU:BPT

Beach Energy Ltd.

AU : Australia: Sydney

$ 1.42

+0.01 +0.71%

Volume: 9.77M

March 31, 2023 4:10p

P/E Ratio

6.53

Dividend Yield

2.12%

Market Cap

$3.20 billion

Rev. per Employee

N/A

/zigman2/quotes/209616278/composite

Add to watchlist BCHEY

Beach Energy Ltd. ADR

US : U.S.: OTC

$ 18.53

-0.69 -3.59%

Volume: 200.00

March 30, 2023 10:31a

P/E Ratio

6.12

Dividend Yield

1.93%

Market Cap

$2.15 billion

Rev. per Employee

N/A

/zigman2/quotes/210515632/delayed

Add to watchlist AU:AWC

Alumina Ltd.

AU : Australia: Sydney

$ 1.46

-0.0050 -0.34%

Volume: 6.94M

March 31, 2023 4:10p

P/E Ratio

30.67

Dividend Yield

4.19%

Market Cap

$4.25 billion

Rev. per Employee

N/A

/zigman2/quotes/201850153/delayed

Add to watchlist AU:BSL

BlueScope Steel Ltd.

AU : Australia: Sydney

$ 20.15

+0.35 +1.77%

Volume: 1.63M

March 31, 2023 4:10p

P/E Ratio

5.48

Dividend Yield

3.01%

Market Cap

$9.14 billion

Rev. per Employee

$2.82M

/zigman2/quotes/201411224/delayed

Add to watchlist AU:JHX

James Hardie Industries PLC

AU : Australia: Sydney

$ 31.83

-0.27 -0.84%

Volume: 1.03M

March 31, 2023 4:10p

/zigman2/quotes/200042563/composite

Add to watchlist JHX

James Hardie Industries PLC ADR

US : U.S.: NYSE

$ 21.65

-0.13 -0.60%

Volume: 77,247

March 31, 2023 4:00p

P/E Ratio

20.05

Dividend Yield

0.99%

Market Cap

$9.59 billion

Rev. per Employee

N/A

/zigman2/quotes/208897707/delayed

Add to watchlist AU:BLD

Boral Ltd.

AU : Australia: Sydney

$ 3.52

-0.06 -1.68%

Volume: 792,466

March 31, 2023 4:10p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$3.95 billion

Rev. per Employee

$342,835

/zigman2/quotes/202320023/composite

Add to watchlist BOALY

Boral Ltd. ADR

US : U.S.: OTC

$ 9.44

+0.03 +0.36%

Volume: 2.00

March 24, 2023 2:45p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$2.62 billion

Rev. per Employee

$237,421

/zigman2/quotes/204567133/delayed

Add to watchlist AU:WES

Wesfarmers Ltd.

AU : Australia: Sydney

$ 50.25

+0.49 +0.98%

Volume: 1.58M

March 31, 2023 4:10p

P/E Ratio

22.58

Dividend Yield

3.74%

Market Cap

$56.45 billion

Rev. per Employee

$345,775

/zigman2/quotes/201861689/composite

Add to watchlist WFAFY

Wesfarmers Ltd. ADR

US : U.S.: OTC

$ 16.86

+0.11 +0.63%

Volume: 10,836

March 31, 2023 3:54p

P/E Ratio

21.89

Dividend Yield

3.22%

Market Cap

$37.85 billion

Rev. per Employee

$239,355

/zigman2/quotes/209906204/delayed

Add to watchlist AU:WOW

Woolworths Group Ltd.

AU : Australia: Sydney

$ 37.90

-0.15 -0.39%

Volume: 2.79M

March 31, 2023 4:10p

P/E Ratio

27.34

Dividend Yield

2.61%

Market Cap

$46.09 billion

Rev. per Employee

$313,758

Add to watchlist WOLZY

Woolworths Ltd. ADR

US : U.S.: OTC

$ 0.00

0.00 0.00%

Volume:

P/E Ratio

0.00

Dividend Yield

N/A

Market Cap

N/A

Rev. per Employee

$217,316

/zigman2/quotes/206911412/delayed

Add to watchlist AU:CSL

CSL Ltd.

AU : Australia: Sydney

$ 288.30

+2.80 +0.98%

Volume: 789,641

March 31, 2023 4:10p

P/E Ratio

45.12

Dividend Yield

1.17%

Market Cap

$137.72 billion

Rev. per Employee

$563,804

/zigman2/quotes/200723909/composite

Add to watchlist CMXHF

CSL Ltd.

US : U.S.: OTC

$ 192.43

+3.16 +1.67%

Volume: 2.00

March 31, 2023 12:14p

P/E Ratio

44.29

Dividend Yield

1.17%

Market Cap

$92.46 billion

Rev. per Employee

$387,817

/zigman2/quotes/200985667/delayed

Add to watchlist AU:BXB

Brambles Ltd.

AU : Australia: Sydney

$ 13.43

-0.01 -0.07%

Volume: 3.97M

March 31, 2023 4:10p

P/E Ratio

20.95

Dividend Yield

2.99%

Market Cap

$18.67 billion

Rev. per Employee

$688,483

/zigman2/quotes/206869297/composite

Add to watchlist BMBLF

Brambles Ltd.

US : U.S.: OTC

$ 9.18

+0.22 +2.46%

Volume: 100.00

March 29, 2023 9:30a

P/E Ratio

20.71

Dividend Yield

N/A

Market Cap

$12.49 billion

Rev. per Employee

$477,000