Australian Market Rises

(RTTNews) - The Australian stock market is rising for a third straight session on Monday following the positive cues from Wall Street Friday amid optimism that the U.S. and China have made progress toward finalizing a "phase one" trade deal.

The benchmark S&P/ASX 200 Index is adding 21.20 points or 0.31 percent to 6,760.40, after rising to a high of 6,766.20 earlier. The broader All Ordinaries Index is up 20.30 points or 0.30 percent to 6,861.30. Australian stocks closed higher on Friday.

Among the major miners, Rio Tinto, BHP Billiton and Fortescue Metals are all advancing more than 1 percent each.

Oil stocks are also higher after crude oil prices rose moderately on Friday. Oil Search is advancing more than 1 percent, Santos is adding 0.7 percent and Woodside Petroleum is rising 0.3 percent.

In the banking space, ANZ Banking, National Australia Bank and Westpac are lower in a range of 0.1 percent to 0.3 percent, while Commonwealth Bank is rising 0.2 percent.
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