Australia: Shares track Asian peers higher on likely Brexit trade deal
[BENGALURU] Australian shares climbed on Thursday, boosted by gains in the energy sector, as global sentiment was lifted by a potential Brexit deal that would avoid Britain crashing out of the European Union (EU) without a trade pact.
The benchmark S&P/ASX 200 index rose 0.5 per cent to 6,676.50 by 0021 GMT.
Australian markets tracked Asian peers higher as Britain and the EU were close to clinching a long-elusive trade agreement, raising hopes that they were now set to avoid a turbulent economic rupture on New Year's Day.
Back home, the Australian energy index rose as much as 2.3 per cent on higher oil prices. The index was set for its best session since Nov 25.
Oil prices rose following draws in US inventories of crude, petrol and distillates which stoked hopes of a return in fuel demand.
Financial stocks gained more than 1 per cent and were set for their best day in just over a week. All of the "Big Four" banks were trading between 0.6 per cent and 0.7 per cent higher.
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Westpac Banking Corp said the country's corporate regulator will not take any action against it, after a probe into allegations that the lender enabled millions of illegal payments to people exploiting children.
The mining sub-index rose as much as 1.4 per cent. Mining giant BHP Group climbed 2.3 per cent while peer Rio Tinto added more than 1 per cent.
BHP said it had met licensing requirements to restart operations and had begun iron ore pellet production at its Samarco joint venture with Brazil's Vale SA.
New Zealand's benchmark S&P/NZX 50 index rose 0.4 per cent to 13,068.33.
Napier Port climbed over 4 per cent to a near two-week high, while Arvida Group rose to a high of over three weeks.
REUTERS
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