ASX ends stronger as vaccine trials resume
The Australian sharemarket has ended the local session stronger as resuming vaccine trials rallies global economic confidence.
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The Australian sharemarket has ended the local session stronger as resuming vaccine trials rallied global economic confidence.
The S&P/ASX 200 index finished the session up 40 points, or 0.7 per cent to 5899.5, after hitting a two-day high earlier in the trading day following the announcement the AstraZeneca-Oxford coronavirus vaccine trials had resumed.
The broader All Ordinaries index rose 39.6 points, or 0.7 per cent to end the trading day at 6078.5, while the Australian dollar was trading at 72.86 US cents at the close of the local session.
“The market could be lifting partly on a decline in positive COVID-19 tests in NSW and Victoria over the past day but also on news AstraZeneca is restarting its vaccine trials,” CommSec analyst Steven Daghlian said.
The energy sector had the biggest uplift of the day, with Queensland-based company New Hope Corporation experiencing the largest daily rise. Its stock rose 8.8 per cent to $1.22 per share.
Flight Centre also made strong gains ending the day up 7.8 per cent to $13.44 per share.
Cleanaway Waste Management had the largest daily slump, following allegations of workplace misconduct by its chief executive Vik Bansel. The company’s shares closed down 7.1 per cent to $2.34 each.
Australia’s major miners performed well as a result of an inflated price for iron ore, with Rio Tinto shares rising 3.9 per cent to $103.73 per share. BHP rose 1.9 per cent to $37.24 per share.
Major banks all end the day positive. Shares in Commonwealth Bank rose 0.6 per cent to $66.17 each, while Westpac was up 0.95 per cent to $16.97 at the close of the session.
ANZ rose 0.9 per cent to $17.68 per share and NAB ended the day up 1.5 per cent to $17.4 per share.
Telstra stock rose 1.1 per cent to $2.88 per share, while Qantas shares ended the session up 3.1 per cent to $3.94 each.
Wesfarmers fell 0.2 per cent to $44.9 per cent, while Woolworth’s stock declined 0.6 per cent to $36.49 per share.
Originally published as ASX ends stronger as vaccine trials resume