Investors immune to Melbourne lockdown: Aus shares close 1.2% higher

Market Reports

by Michael Luu

Text-only (non-video) report.

The ASX200 extended its rally in afternoon trade, wrapping up the week’s last trading session on a high note. The Australian benchmark’s second consecutive day in positive territory also marked two straight weeks of gains, as green was the index’s dominant colour for four out of five working days. Stock investors appeared immune to the effect of the seven-day lockdown in Melboune.

The Friday session was characterised with surges by the materials and energy sectors, as commodity-based stocks followed an upward trend among counterparts around the world. Iron ore players were the standout performers, as BHP (ASX:BHP) and Rio Tinto (ASX:RIO) were both making gains of more than 3.2 per cent by the close of trade.

Financials put icing on the cake, as all the big-four banks edged higher.

Information Technology underwhelmed and remained today’s weak link, as all other sectors were in the buy zone.
 

At the closing bell, the S&P/ASX 200 was 1.19 per cent or 84.60 points higher at 7179.50. Over the week, it closed 2.08 per cent or 149.20 points higher.

Futures

The Dow Jones futures are pointing to a rise of 131.00 points.
The S&P 500 futures are pointing to a rise of 9.25 points.
The Nasdaq futures are pointing to a rise of 8.00 points.
The SPI futures are pointing to a rise of 85 points when the market next opens.

Best and worst performers

The best-performing sector was Materials, up 1.88 per cent. The worst-performing sector was Information Technology, down 0.53 per cent.

The best-performing stock in the S&P/ASX 200 was Inghams Group (ASX:ING), closing 8.60 per cent higher at $3.41. It was followed by shares in South32 (ASX:S32) and Corporate Travel Management (ASX:CTD).

The worst-performing stock in the S&P/ASX 200 was CSR (ASX:CSR), closing 5.27 per cent lower at $5.57. It was followed by shares in Nuix (ASX:NXL) and Champion
Iron (ASX:CIA).

Asian markets

Japan's Nikkei has gained 2.10%.
Hong Kong's Hang Seng has lost 0.07%.
China's Shanghai Composite has lost 0.53%.

Wall Street

Over the last four trading days, the Dow Jones gained 0.75 per cent, the S&P 500 gained 1.07 per cent and the Nasdaq gained 1.93 per cent.

Commodities and the dollar

Gold is trading at US$1890.33 an ounce.
Iron ore is 1.60 per cent lower at US$189.73 a ton.
Iron ore futures are pointing to a rise of 1.46 per cent.
Light crude is trading $0.11 lower at US$64.34 a barrel.
One Australian dollar is buying 77.21 US cents.