The Australian share market has ended a six-day losing streak, buoyed by resources and banking stocks.
Oil price gains boosted the local energy sector following a strong performance by international energy companies in the US overnight.
“The positive take away is that we’ve snapped that… losing streak,” OptionsXpress analyst Ben LeBrun said.
“The market has floated a little higher.”
Investors were interested in bond markets and international equities, he said.
Among the big energy players, Woodside rose 62 cents to $36.22, and Santos was seven cents higher at $8.07.
In the banking sector, Westpac rose one cent to $31.36, Commonwealth Bank added nine cents to $79.91, National Australia Bank advanced 23 cents to $31.83 but ANZ fell seven cents to $31.09.
In the resources sector, global miner BHP Billiton was six cents higher at $27.66, Rio Tinto was down 30 cents at $56.07 and Fortescue Metals dipped six cents to $2.33.
Woolworths was up 32 cents at $27.43 after it announced plans to invest more than $650 million in new stores and infrastructure and add more than 2,000 staff to its Victorian workforce over the next three years.
Airline Qantas dropped one cent to $3.23 after it said it will begin direct flights between Sydney and San Francisco six days a week from December under an expanded co-operation agreement with American Airlines.
KEY FACTS
*At the close on Wednesday, the benchmark S&P/ASX200 index was 7.3 points, or 0.13 per cent, higher at 5,478.6.
* The broader All Ordinaries index was up 6.3 points, or 0.11 per cent, at 5,486.0, according to preliminary figures.
* The June share price index futures contract was 15 points higher at 5,477, with 23,471 contracts traded.
* National turnover was 1.9 billion securities worth $4.59 billion.
