S&P/ASX 200: ASX up 1.2% for highest-ever daily close

ASX rises 1.2 per cent to hit its highest ever daily close, with iron ore strength powering the index past any worries about Victoria's outbreak. 

Oil and copper were higher overnight. Picture: NCA NewsWire / Christian Gilles

Welcome to the Trading Day blog for Friday, 28 May 2021. The ASX 200 rose 1.2 per cent to 7179.5, hitting its highest ever daily close, with iron ore strength powering the index past any worries about Victoria's outbreak. 

Fortescue said it now expects Iron Bridge to cost $US3.3bn to $US3.5bn to complete, up from a $US3bn estimate in February. BetMakers is bidding for Tabcorp's wagering arm. Inghams positive on earnings.

The Dow Jones Industrial Average finished up 0.4pc at 34,464.64. The broad-based S&P 500 added 0.1pc at 4200.88, while the tech-rich Nasdaq Composite Index was essentially flat at 13,736.28. US jobless claims fell to a new pandemic low.