The Australian stock market has hit a fresh nine-month high as investors are buoyed by a promising COVID-19 vaccine rollout and a strong night on Wall Street.
Soon after opening the S&P/ASX 200 hit 6727 points, a level not seen since late February.
Early winners include Whitehaven Coal (+4.75 per cent), financial firm Xero (+ 1.75 per cent) and Virgin Money UK (+2.52 per cent).
READ MORE: One major cyber attack on a global bank could cripple entire system: IMF
The Aussie dollar is currently buying 74 US cents, the highest level since August 2018.
Overnight steady gains throughout the day delivered another round of record highs for major indexes on Wall Street.
The S&P 500 rose 0.3 per cent. The tech-heavy Nasdaq also hit a record high.
READ MORE: One trick Aussies are missing out on with home loans
Small-company stocks rose much more than the rest of the market, a signal that investors are feeling more optimistic about the economy.
The gains, which came after a shaky start for the market, came as the UK became the first Western country to start a mass vaccination program.
US regulators have given a positive initial review of the vaccine and a decision to allow its use is expected within days.
Meanwhile, governments worldwide have been tightening restrictions on businesses in an effort to stem the latest surge in cases.
You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the App Store, Google Play and the Government's WhatsApp channel.
Beyond Blue's Coronavirus Mental Wellbeing Support Service is a 24/7 service free of charge to all Australians. Visit the site here or call 1800512348
For coronavirus breaking news alerts and livestreams straight to your smartphone sign up to the 9News app and set notifications to on at the App Store or Google Play.
from 9News https://ift.tt/3oBvgoQ
via IFTTT
0 Comments