Australian shares ended higher on Wednesday, powered by gains in top two companies by market value on the benchmark after their strong half-year results, with a drop in new coronavirus cases in China adding to sentiment.[BENGALURU] Australian shares ended higher on Wednesday, powered by gains in top two companies by market value on the benchmark after their strong half-year results, with a drop in new coronavirus cases in China adding to sentiment.
The S&P/ASX 200 index ended 0.5 per cent higher at 7,088.2 at the end of trade on Wednesday, after rising 0.6 per cent on Tuesday. Shares of Commonwealth Bank of Australia, the country's top lender, closed at a nearly five-year high as it posted a better-than-expected half-year profit and said it was looking to return capital to shareholders.
The bank's gains helped the financial subindex rise over 1.8 per cent, contributing the most to the benchmark index's winnings. Index heavyweight CSL Ltd hit a record high close after posting an 8 per cent rise in first-half earnings and raising its full-year profit forecast.
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