JHX

James Hardie Industries plc

19.94
USD
1.32%
19.94
USD
1.32%
19.41 41.85
52 weeks
52 weeks

Mkt Cap 8.88B

Shares Out 445.13M

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Miners, banks lift Australian shares to over two-month high

Aug 11 (Reuters) - Australian shares hit a more than two-month high on Thursday, boosted by banking and mining stocks, a day after signs of sharply decelerating U.S. inflation raised hopes the Federal Reserve will become less aggressive on interest rate hikes. The S&P/ASX 200 index .AXJO gained 0.9% to 7,056.20 by 0036 GMT, its highest level since June 9. The benchmark closed 0.5% lower on Wednesday. In other key markets, Japan's Nikkei .N225 fell 0.7% to 27,819.33, while S&P 500 E-minis futures EScv1 inched up 0.2%. Data on Wednesday showed that U.S. consumer prices were unchanged in July, prompting bets that the Fed will likely hike rates at a slower pace than previously expected. MKTS/GLOB In Australia, financials .AXFJ advanced 0.9%. The country's four largest banks added between 0.6% and 1.3%. Miners .AXMM climbed 1% even as iron ore prices fell overnight due to uncertainty over demand prospects in top steel producer China. IRONORE/ Among heavyweights, BHP Group BHP.AX and Fortescue Metals FMG.AX gained 1.1%, each, while rival Rio Tinto RIO.AX tumbled 3.2% on trading ex-dividend. Technology stocks .AXIJ tracked their Wall Street counterparts higher to rise 2.2%. The sub-index was on track to mark its best say since Aug. 4. Software maker Xero XRO.AX and WiseTech Global WTC.AX were up 2.6% and 3.3%, respectively. Wealth manager AMP Ltd AMP.AX retreated 2.6%, following a drop of nearly a quarter in its half-year profit. James Hardie Industries JHX.AX advanced 2.1%, after the Australian building materials giant said it was in the final stages of selecting a new chief executive officer. In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.6% to 11,821.52. The country's house prices fell in July with the median price recording its first annual fall since 2011, the Real Estate Institute of New Zealand said. (Reporting by Upasana Singh; Editing by Rashmi Aich) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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