Four-day rally lifts ASX to 2-week high: Aus shares close 1% higher

Market Reports

by Michael Luu

The Australian sharemarket maintained its momentum from morning gains and established its foothold in the 7100s region in late trade. The ASX200 extended its rally to 4 consecutive days, notching a two-week high at the close of trade

Rises in blue-chip companies propelled the broad market, as all sectors except for Utilities edged higher today. All big four banks made advances today, as Commonwealth (ASX:CBA) continued to reset record highs and lifting 0.9 per cent to $99.63.

The New Zealand government has temporarily suspended quarantine-free travel arrangements with Victoria, following the state’s reintroduction of social restrictions in response to nine new cases of COVID-19. The news has so far not had an immediate impact on travel stocks, as Qantas (ASX:QAN) and Air New Zealand (ASX:AIZ) both closed higher.


At the closing bell, the S&P/ASX 200 was 0.98 per cent or 69.30 points higher at 7115.20.

Futures

The Dow Jones futures are pointing to a rise of 85.00 points.
The S&P 500 futures are pointing to a rise of 13.25 points.
The Nasdaq futures are pointing to a rise of 66.50 points.
The SPI futures are pointing to a rise of 60 points when the market next opens.

Best and worst performers

The best-performing sector was Real Estate Investment Trusts, up 1.46 per cent. The worst-performing sector was Utilities, down 0.44 per cent.

Asian markets

Japan's Nikkei has gained 0.57%.
Hong Kong's Hang Seng has gained 1.53%.
China's Shanghai Composite has gained 2.31%.

Commodities and the dollar

Gold is trading at US$1877.16 an ounce.
Iron ore is 4.10 per cent lower at US$192.42 a ton.
Iron ore futures are pointing to a rise of 0.42 per cent.
Light crude is trading $0.01 higher at US$63.74 a barrel.
One Australian dollar is buying 77.62 US cents.


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