Thin volumes, fresh highs 🍃 - a podcast by ausbiz

The major miners kicked off a solid start to the holiday-shortened week, subsequently joined by energy and gold names. The big hitters Rio and BHP both closed higher, with a weaker Australian dollar boosting exporters more broadly. It was quite the mixed bag at the top of the ladder. Imugene added 8% on no news, followed by Cleanaway closing up nearly 6%, oil and gold names thereafter featured in the top 10. Volumes were slim, it must be said. Surging bond yields in the US weighed on tech, and Aussie non-profit names copped the brunt, with Block, Xero and City Chic resting at the bottom of the ladder. The RBA Board reiterated rate hikes are coming after a few more key data reports. Markets are already fully priced for a June hike. Overall, the S&P/ASX200 reached 7565 by the close, up 0.6%.

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