SYDNEY: The Australian stocks remains in pursuit of the elusive 6000-point threshold, pushing higher in early trade after a strong lead from Wall Street at the end of last week.
At 10.15am (AEST) the benchmark S & P/ASX200 index was up 18.7 points, or 0.31 per cent, at 5987.1 points, while the broader All Ordinaries index added 18.4 points, or 0.31 per cent, to 5953.8 points.
CMC chief market analyst Ric Spooner said a risk-on session for international markets, led by Europe, was likely to see the local market edge higher in early trade.
“This will have traders again thinking about the potential implications of a break above 6000 by the ASX200,” he said.
“Soft COMMODITY MARKETS and concerns about the implications for Australia of waning growth in China may contain any latent animal spirits in the local share market at least temporarily.”
Energy stocks led the market higher, adding 1.07 per cent.
Oil Search lifted 2.07 per cent to $7.69.
