ASX up 1pc at nine-day high, boosted by energy and materials
The ASX 200 closed 1 per cent higher at a nine-day, led by energy and materials. Liontown soars 67 per cent after latest takeover bid. Global market turmoil isn’t over, warns ANZ boss Shayne Elliott.
Welcome to the Trading Day blog for Tuesday, March 28. ASX 200 higher. Westpac flags borrower default concerns after repossessions. Retail sales grew in Feb. Liontown soars on another Albemarle bid rejection. United Malt lifts on Malteries offer.
The ASX 200 index finished 1 per cent higher at 7034.1 points. Banks and energy stocks are higher as US futures add to positive offshore leads.
On Wall Street, the S&P 500 index closed 0.2 per cent higher, the technology-focused Nasdaq Composite Index fell 0.5 per cent and the Dow Jones Industrial Average ended 0.6 per cent stronger. First Citizens bank shares surged 54 per cent on its mop-up of Silicon Valley Bank assets. US 10-year bond yields lifted to 3.54 per cent and the two-year bond yields rose to 4.03 per cent.
Oil prices soared with the global benchmark Brent crude 4.3 per cent higher at $US77.84 per barrel while the US Nymex is 5.4 per cent stronger at $US73.01 per barrel.
The Aussie dollar is trading around US66.50c.
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