The local share market is up again, nearing an all-time high ahead of its final two trading days of 2023.
At noon AEDT on Thursday, the benchmark S&P/ASX200 index was up 39.7 points, or 0.53 per cent, to 7,600.9. That is 32 points, or 0.4 per cent, away from its peak set in August 2021.
The broader All Ordinaries was up 40.2 points, or 0.52 per cent, to 7,936.9.
Overnight the S&P500 made small gains, stalling just ahead of its record high set in January 2022.
“Whether this is the end of the climb or just the market setting up camp remains to be seen,” wrote Capital.com analyst Kyle Rodda. It would only take a modest push to get the index over the line, but tensions in the Middle East could boil over and upturn sentiment.
All of the ASX’s sectors except utilities and property were higher at midday.
Mining was the biggest gainer, up 0.9 per cent as iron ore traded at an 18-month high of $US142 a tonne.
BHP was up 1.0 per cent to $50.74, Fortescue had risen 1.7 per cent to $29.05 and Rio Tinto was 0.8 per cent ahead at $136.25. All three mining giants were set to finish at all-time closing highs.
Core Lithium was the biggest gainer in the ASX200, rising 5.2 per cent to 25.25c to claw back a bit of its recent losses.
All four of the big retail banks were higher, with CBA up 0.6 per cent, ANZ adding 0.5 per cent and Westpac and NAB both 0.4 per cent higher.
The Australian dollar was at a fresh six-month high against its US counterpart, buying 68.69 US cents, from 68.29 US cents at Wednesday’s ASX close.