Australian stocks stronger on positive leads: Afternoon market insights

The Australian sharemarket rose modestly higher today, after solid gains on Wall Street overnight.

At 2.30 pm, the ASX200 gained 0.49% to 4102.3, while the broader All Ordinaries index gained 0.52% to 4139.6.

Senior trader at CMC Markets Tim Waterer said minings stocks saw plenty of interest today following rises in commodity prices.

“However, early market momentum proved difficult to maintain in the absence of any new sentiment drivers during our session, which saw our market ease back from the earlier highs. Although after the run of outs last week up until Friday, any up-days on the index are gladly welcomed with open arms.”

The Australian dollar lifted on the release of better-than-expected Chinese GDP data, buying $US1.02230.

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