ASX 200 rises on lithium stocks; Telstra restructure approved, Megaport sinks on update

ASX ends at a two-week high. Lithium stocks rally, Megaport sinks on update, Qantas hits pre-Covid high, Telstra restructure approved and Medibank contacted by group over breach.

Corporate updates and global economic and political developments are weighing on investors’ minds. Picture: Lisa Maree Williams/Getty Images

Welcome to the Trading Day blog for Wednesday, October 19. The Australian sharemarket trading at a multi-day high on gains led by utilities and industrials as US futures bounce on Netflix's bumper result.

The S&P/ASX 200 index was up 0.4 per cent to 6804.80 at 2.29pm AEDT.

On Wall Street, the S&P 500 closed 1.1 per cent higher, technology-focused Nasdaq Composite index added 0.9 per cent and the Dow Jones Industrial Average gained 1.1 per cent.

US 10-year bond yields fell to 3.99 per cent and two-year yields slipped to 4.43 per cent.

Oil prices are down with the global benchmark Brent crude down 1.7 per cent to $US90.03 per barrel and US Nymex off 3.1 per cent at $US82.82 per barrel.

The gold futures price fell by 0.5 per cent to $US1655.80 an ounce while iron ore futures price is up 0.3 per cent to $US95.21 per tonne.

The dollar was buying 63.20c at noon.