ASX ends seven-day losing streak; PointsBet soars as Lake Resources crashes
ASX rallies on energy, mining and banking stocks. PointsBet rally continues, Lake Resources crashes 28 per cent, Dexus portfolio grows $374m and RBA says rate hikes to continue.
Welcome to the Trading Day blog for Tuesday, June 21. The Australian share market ends a seven-day losing streak to end higher as energy stocks and banks rally.
The S&P/ASX 200 index climbed 1.4 per cent to 6523.80 with eight of the 11 sectors in the green.
Wall Street was closed on Monday for a public holiday but US futures are trading higher.
In Europe, stocks climbed with the major benchmarks in the UK, Germany and Spain all rallying more than 1 per cent.
Cryptocurrencies have also steadied after recent bouts of panic selling. Bitcoin is trading around $US20,107.24 after plunging below $US18,500 over the weekend.
Among commodities, oil prices are trading higher with Nymex crude oil up 1.3 per cent to $US111 a barrel. Iron ore futures, meanwhile, are down 2.6 per cent to $US128 a tonne.
And the Australian dollar is trading around US69.50c.
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