ASX opens sharply higher

ASX opens sharply higher

The ASX200 has followed Wall Street’s lead, up over 60 points to 4660, a jump of close to 1.5%

Wall Street was buoyed by the Reserve Bank of Australia’s decision to raise interest rates by 25 basis points yesterday.

The materials index was the strongest performing sector, up almost 3%. Newcrest Mining “(ASX:NCM)”: was up over 6% to $2.16 and Lihir Gold (ASX:LGL) was up 17c to $3.14 as investors pounced on gold stocks.

Gold reached an all-time high of $1,040 an ounce overnight.

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