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The spike in commodity prices is pushing the Australian stock market modestly higher on Monday, extending the gains in the previous two sessions. The benchmark S&P/ASX 200 is moving to near the 7,000 mark, following the broadly positive cues from global markets on Friday, with gains across most markets, led by in gold miners and energy stocks.
Despite the broadly positive cues from global markets on Friday, Asian stock markets are trading mixed in slim holiday trading on Monday, as traders are cautious amid the geopolitical tensions in the Middle East after Hamas' surprise violent attack on Israel over the weekend.
Extending the gains in the previous session, the Australian stock market is modestly higher on Friday, despite the broadly negative cues from Wall Street overnight.
Despite the broadly negative cues from Wall Street overnight, Asian stock markets are trading mostly higher on Friday, as traders continued to take advantage of the recent slump in the markets as they picked up stocks at reduced levels, even as concerns remain about interest rates and the outlook for global economic growth.
The Australian market is slightly higher on Thursday, recouping some of the losses in the previous two sessions, following the broadly positive cues from Wall Street overnight.