By Oliver Gray
Investing.com - The S&P/ASX 200 closed 58.40 points or 0.80% higher to 7,382.10 on Monday, partially retracing last week’s losses of 1.26% as better than expected local data boosted sentiment amid easing lockdown restrictions and the return of international arrivals across the country.
Among stocks, mining heavyweights were mixed as Rio Tinto Ltd (ASX:RIO) added 0.7%, BHP Billiton Ltd (ASX:BHP) lost 0.57% and Fortescue Metals Group Ltd (ASX:FMG) gained 2.44%. Technology shares closed higher, with Appen Ltd (ASX:APX) up 2.7%. Wisetech Global Ltd (ASX:WTC) surging 5.6%, and Xero Ltd (ASX:XRO) lifting 4.21%. Meantime, Westpac Banking Corp (ASX:WBC) sank 6.62% after it revealed full-year results and an $A3.5 billion share buy-back. Prime Media Group Ltd (ASX:PRT) surged 71.74% after entering into a conditional Share Sale Agreement with Seven West Media. A lift in airline stocks also reflected the reopening of flights across Australia, with Qantas Airways Ltd (ASX:QAN) up 3.55%, Flight Centre Ltd (ASX:FLT) gaining 2.35% and Webjet Ltd (ASX:WEB) adding 1.58%.
On the bond markets, Australia 10-Year yields eased from 32-month highs to 1.924% while United States 10-Year rates were at 1.564%.
Among data, the IHS Markit Australia Manufacturing PMI lifted to 58.2, posting the strongest expansion in factory activity in 4 months, however, higher delivery times contributed to ongoing price pressures, while input cost inflation hit survey records.