Australia's S&P/ASX 200 share index closed up 0.8% at 7308.7 points after hitting a 4-day high of 7354.8 on strong US gains.

Australia's S&P/ASX 200 share index closed up 0.8% at 7308.7 points after hitting a 4-day high of 7354.8 on strong US gains.

Global markets took a hit over concerns of the economic impact of the fast-spreading Delta Covid variant. Picture: David Swift

Welcome to the Trading Day blog for Wednesday, July 21. The ASX is climbing, up 1.4% at a 4-day high. BHP, CBA gaining. June retail sales data was weak.

Wall Street rebounded from yesterday’s big sell-off. The Dow rose 1.6 per cent, the S&P 500 gained 1.5 per cent and the Nasdaq  added 1.6 per cent. European stocks and oil prices also rose, recovering from some heavy losses a day earlier fuelled by fears the fast-spreading Delta Covid variant could derail the global economic recovery.

Originally published as Australia's S&P/ASX 200 share index closed up 0.8% at 7308.7 points after hitting a 4-day high of 7354.8 on strong US gains.

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