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Title: Australia stocks higher at close of trade; S&P/ASX 200 up 0.05%

May 23, 2022 03:45AM ET

By: AnalysisWatch

Australian shares rose after the close on Monday as gains in the materials, metals and mining, and resources sectors led stocks higher.

At the close in Sydney, the S&P/ASX 200 was up 0.05%.

The best performers of the session on the S&P/ASX 200 were Codan Ltd (ASX:CDA), which rose 14.52% or 0.98 points to trade at 7.73 at the close. Meanwhile, Elders Ltd (ASX:ELD) added 8.91% or 1.22 points to end at 14.92 and NRW Holdings Ltd (ASX:NWH) was up 4.20% or 0.08 points to 1.99 in late trade.

The worst performers of the session were Polynovo Ltd (ASX:PNV), which fell 7.55% or 0.10 points to trade at 1.23 at the close. Incitec Pivot Ltd (ASX:IPL) was down 3.74% or 0.14 points to end at 3.60 and Kogan.com Ltd (ASX:KGN) was down 2.67% or 0.10 points to 3.64.

Falling shares outnumbered rising ones on the Sydney Stock Exchange by 743 to 661 and 404 ended unchanged.

Elders Ltd shares rose to a 5-year high; up 8.91% or 1.22 to 14.92.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, fell 4.26% to 16.90.

Gold futures for June delivery rose 0.60%, or 11.02, to $1,853.12 a troy ounce. Elsewhere in commodities trading, crude oil for delivery in July rose 0.63%, or 0.70, to $110.98 a barrel, while the August Brent oil contract rose 0.79%, or 0.87, to $110.86 a barrel.

AUD/USD was up 0.97% at 0.71, while AUD/JPY was up 0.78% at 90.62.

US dollar index futures were 0.43% lower at 102.73.

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