ASX edges higher in February 19, 2024 trading

The Australian share market edged up slightly on Monday’s trading despite a dramatic fall in real estate stocks.

The Australian share market edged higher on Monday with mining stocks lifting the bourse and six out of 11 sectors closing up in the green.

The benchmark ASX 200 index rose 6.8 points, or 0.09 per cent, to finish the session at 7,665.1 points.

The broader All Ordinaries lifted 7.7 points, or 0.1 per cent, to close at 7,913.3.

The Australian dollar was relatively flat against all major currencies, gaining 0.12 per cent against the US dollar to close at 65.44 cents, and gaining 0.14 per cent against the euro to close at 0.6070. The Aussie dollar fell 0.01 per cent against Japan, closing at 98.1290 Yen.

A modest lift in mining stocks helped push the bourse higher, with behemoths BHP, Rio Tinto and Newmont all booking gains.

BHP rose 0.94 per cent, Rio lifted 1.55 per cent and Newmont rose 0.79 per cent.

Six out of 11 sectors ended in the green, with telecommunications rising 0.74 per cent, financials lifting 0.73 per cent, materials rising 0.5 per cent, discretionary going up 0.42 per cent, industrials rising 0.36 per cent and staples rising 0.15 per cent.

The ASX is hovering near record highs and edged higher on February 19, 2024. Picture NCA Newswire/ Gaye Gerard.

Utilities, energy, health care, information technology and real estate all finished down, with the real estate sector hardest hit, falling 2.63 per cent.

The fall was driven by Lendlease Group’s 14.51 per cent collapse after it reported half-year earnings.

The company reported a loss of $136m for the six months to December 31, 2023.

Major energy stocks Santos and Woodside Petroleum trended down 0.54 per cent and 0.55 per cent, respectively.

Big movements from the day include the a2 Milk Company, which zoomed up 12.48 per cent after it reported a rise in its half-year revenues and profits, and coal firm New Hope Corporation, which fell 7.5 per cent on lower quarterly revenues and profits on the back of a decline in coal prices.

The big four banks all rose, with Westpac in front with a 2.72 per cent rise.

The US market is closed tonight for the national celebration of George Washington’s birthday.

BHP will likely dominate the share market on Tuesday, with the $230bn mining giant reporting its half-year earnings in the morning.