ASX sets new post-pandemic record: Aus shares close 0.7% higher

Market Reports

by Michael Luu

Text only (non-video) report.

The ASX200 has maintained momentum throughout the day, as the Australian stock market remained immune to US inflation figures and vaccine setbacks. The tech and mining sectors ballooned Aus shares to a new 13-month high. BHP (ASX:BHP) and Rio Tinto (ASX:RIO) spearheaded the mining charge, adding 0.6 and 0.8 per cent respectively just before the close of trade. Precious metals miners Resolute (ASX:RSG) and Perseus Mining (ASX:PRU) were among the star performers of the gold miners’ rally.

At the closing bell, the S&P/ASX 200 was 0.66 per cent or 46.20 points higher at 7023.10.

Futures

The Dow Jones is pointing to a rise of 7 points. 
The S&P 500 is pointing to a rise of 4 points. 
The Nasdaq is pointing to a rise of 7 points.
The SPI futures are pointing to a rise of 47 points tomorrow morning.
 
Economic news

Westpac (ASX:WBC) has released data indicating consumer sentiment has reached an 11-year high, as confidence in family finances and economic recovery soars.

The Wespac-Melbourne Institute Index of Consumer Sentiment reflects an increase of 6.2 per cent to 118.8 in April, defying concerns around JobKeeper’s termination and vaccine delays.

Company news

Brainchip (ASX:BRN)’s announcement of the commencement of microprocessor volume production has catapulted shares in the artificial intelligence (AI) innovator.

Medicinal cannabis grower Australian Natural Therapeutics Group (ANTG) has entered into the due diligence stage of joining forces with Canadian counterpart Asterion to create the world’s largest cannabis production facility

Origin Energy (ASX:ORG) has stepped up its eco-friendly hydrogen game by striking a preliminary agreement with the Port of Townsville in Queensland.

Best and worst performers

All sectors finished in the black. The best-performing sector was Information Technology, up 2.05 per cent. The sector with the fewest gains was Communication Services, up 0.05 per cent.

The best-performing stock in the S&P/ASX 200 was Resolute Mining (ASX:RSG), closing 14.89 per cent higher at $0.54. It was followed by shares in Perseus Mining (ASX:PRU) and Mineral Resources (ASX:MIN).

The worst-performing stock in the S&P/ASX 200 was Credit Corp Group (ASX:CCP), closing 3.70 per cent lower at $30.45. It was followed by shares in Monadelphous Group (ASX:MND) and Webjet (ASX:WEB).

Asian markets

Japan's Nikkei has lost 0.4 per cent. Hong Kong's Hang Seng has ganied 1.4 per cent. The Shanghai Composite has gained 0.6 per cent.

Commodities and the dollar

Gold is trading at US$1746.31 an ounce.
Iron ore is 0.80 per cent lower at US$173.25 a ton.
Iron ore futures are pointing to a fall of 0.10 per cent.
Light crude is $0.69 higher at US$59.37 a barrel.
One Australian dollar is buying 76.74 US cents.