Aussie shares reset intraday record as commodities soar
Investors have reason to celebrate as the main ASX index hit another record intraday high. -AAP Image
Australia's share market has spiked to a new high as commodity price strength buoyed miners and energy stocks, while banks continue higher on the back of promising earnings.
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The S&P/ASX200 hit a new intraday record of 9,118.3 on Thursday, before ending the session 79.2 points higher, up 0.88 per cent, to 9,086.2.
The broader All Ordinaries gained 77.9 points, or 0.84 per cent, to 9,316.6, but only came within 74 points of its highest-ever value, as earnings season continues to favour the large caps.
Seven of 11 local sectors ended the day higher, while real estate trusts and consumer discretionary stocks sold off, the latter led by a 5.6 per cent slump in Wesfarmers after its sales growth failed to impress.
The Australian dollar is buying 70.51 US cents, down from 70.69 US cents on Wednesday at 5pm, despite lower-than-expected January unemployment figures increasing the odds of a Reserve Bank interest rate hike in March.
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