Australian stocks end higher on broad-based gains Australian shares ended higher on Thursday, driven by broad-based gains across sectors and in tandem with global sentiment, as focus shifts to the US Federal Reserve’s comments at an upcoming annual conference. The SP|ASX 200 index ended 0.7% higher at 7048.1 points at the close of trade. The benchmark rose 0.5% on Wednesday. “Overall macro picture remains heavy on the Jackson Hole symposium, as the market watches for commentary from US Federal Reserve chair Powell and any hints on the overall Fed rhetoric for the next rate hike,” said Azeem Sheriff, market analyst at CMC Markets. The commentary will have an impact on other global equity markets, especially if the measures discussed are not seen as sufficient to tackle the high inflationary environment in the US, he added. Miners and mining sub-index rose 0.7%, adding gains for the third straight session, with sector giants BHP Group, Rio Tinto and Fortescue Metals Group climbing between 0.1% and 0.7%. Additionally, banking stocks gained 0.8% with the so-called “Big Four” banks trading in positive territory.