By Oliver Gray
Investing.com - The S&P/ASX 200 was 84.60 points or 1.16% to 7,381.50 higher in early Thursday deals, extending gains for the third consecutive session as investors tracked a positive close on Wall Street overnight after Federal Reserve policymakers took positive views on the economic recovery, indicating that a gradual tapering process that concludes around the middle of next year is likely to be appropriate.
In coronavirus news, Victoria tallied a record high of 766 cases on Thursday, as police brace for the fourth day of anti-vaccine protest across Melbourne. Meantime, New South Wales added 1039 cases as health authorities lifted stay-at-home orders for Glen Innes and Orange LGAs.
Among stocks, technology names performed well, with Afterpay Touch Group Ltd (ASX:APT) surging 4.17% and Wisetech Global Ltd (ASX:WTC) adding 2.46%. Mining heavyweights also extended gains as Iron ore prices surged 16% overnight, with Rio Tinto Ltd (ASX:RIO) and Fortescue Metals Group Ltd (ASX:FMG) up 0.62% and 2.73% respectively.
Among data, preliminary PMI readings showed Manufacturing rising to a three-month high as manufacturers adapted to lockdown restrictions across the country. Meantime, Services contracted for the third consecutive month amid the ongoing mobility restrictions and protracted periods of lockdown.
ASX 200 Futures were 68.5 points or 0.94% higher.
In New Zealand, the NZX 50 added 59.98 points or 0.45% to 13280.2.