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Australian Market Gains With Bank And Energy Stocks

Australian Market Gains With Bank And Energy Stocks

Australian markets advanced, with miners, banks and energy stocks pacing the gainers. The benchmark S&P/ASX 200 rose 1.19 percent to 7,831.80 while the broader All Ordinaries index closed up 1.17 percent at 8,079.20.

Australia’s trade surplus declined in May as the growth in imports exceeded the increase in exports, official data showed on Thursday.

The trade surplus fell to A$5.77 billion in May from A$6.03 billion in April, the Australian Bureau of Statistics said. The surplus was expected to fall to A$6.2 billion.

In the same period last year, the trade balance posted a surplus of A$10.79 billion.

Exports posted a monthly growth of 2.8 percent driven by shipment of metal ores and minerals. At the same time, imports advanced 3.9 percent underpinned by fuels and lubricants.

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First Published: Jul 04 2024 | 4:38 PM IST